Focus Graphite Inc V.FMS.WT

Primary Symbol: V.FMS Alternate Symbol(s): FCSMF

Focus Graphite Inc. is a Canada-based advanced exploration company. The Company is engaged in the exploration and development of deposits of flake graphite located in Quebec, Canada. Its projects are Lac Knife and Lac Tetepisca projects. Lac Knife project is a high-grade crystalline flake graphite deposit located in northeastern Quebec, approximately 27 kilometers (km) south of Fermont. The property consists of approximately 57 mining claims covering 29,863 hectares. Lac Tetepisca project comprises two properties, Lac Tetepisca and Lac Tetepisca Nord. These properties are located in the Southwest Manicouagan reservoir area of the Cote-Nord region of Quebec, approximately 234 km north-northwest of the city of Baie-Comeau, an industrial city located where the Manicouagan River intersects the north shore of St. Lawrence River in the Cote-Nord, Quebec. Its properties form a block of approximately 115 claims, covering 6,000 hectares within the Manicouagan-Ouest Graphitic Corridor.

TSXV:FMS - Post by User

Focus Graphite Inc

Bullboard Posts

Post by TAPickson May 03, 2011 11:10am

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Post# 18522492

A different view now...

Focus Metals Inc. (TSX-V: FMS)Always good to have a second view on a chart as I was just reminded by George of Agoracom via Twitter... Thanks George! The last time I talked about Focus Metals it had formed a Bull Flag and had just broken out of the flag portion. The calculated move on the Bull Flag was well over $2.00 but it never got there, decrease chart pattern success rate by one! LOL! Its been drifting down for a while and perhaps it has formed another pattern, which is what I should have done a while ago on it...

As it turns out, we could be seeing a Falling Wedge now except that is has not bounced on the lower trend line as often as 'suggested' by the chart pattern. I should have at least 5 bounces (from top to bottom) to really validate the formation. But with the 200SMA trend line not too far below and today's move up from the lower trend line, it could be the start of a move up. So what will convince me? Indicators (both the Slow Stochastic and Relative Strength Index) are still in the oversold area, not good and no clear entry point. So I'm going to wait for the indicators to turn upwards and the price to move above the upper trend line with an increase of volume.