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Hello Fellow Fools

The pattern of the last 2 years appears to be a falling wedge type pattern with the last year or so a nice basing formation in process. The move in the last couple days is encouraging, has come on increasing volume & has taken out the declining tops line of the last 4 ½ months (a good start!) BUT much more volume & price action will be needed to get FTEK running again. Two short term resistance points should be closely monitored. First the MAJOR declining tops line resistance near 6.75 then the lateral resistance level near 7.15. Once it gets across that second level ( 7.15) with a price volume surge , I’ll become much more interested take a large position. That would be a KEY breakout and an indication that an important new uptrend may be underway.

For now, Im accumulating in this basing pattern because of the following:

-EPA Transport Rule shaping up, with publication in early 2011, once in place regs implemented for 2012 requiring plants to 'scramble' to conform. FTEK technology positioned perfectly.
-Chinas 12th 5yr plan finalized March 2011, with Environmental controls a significant portion of it. FTEK demonstrates an already expanding China Platform, particularly in the past 6 months, I anticipate a significant increase as once decisions are made, actions are swift.
-Earnings turn positive, bid activity is increasing, backlog increasing
-Political Agenda more solidified than it has been in recent past
-Economic and Energy demand in recovery
-An increasing trend of power producers switching to cost efficient lower quality coal (beneficial for FTEK)

There are a slew of other reasons why I feel FTEK is RIPE in 2011 and 2012 particularly.

Look forward to foolish comments!

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