FTCH has been range bound the last few weeks and looking for a direction. Today the market gave it some direction with record volume and a roughly 50% rise in the stock.
With penny stocks dollars speak louder than words. In other words, when a penny stock experiences record money volume to the upside a breakout could be in the offing.
The stock consolidated around the .012 - .018 level and has since broken out above its resistance at .02. This bodes well for more upside tomorrow and over the next several trading sessions. FTCH will be a stock on our radar well into the summer months.
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