Congratulations to two-time winner and long-time reader “ctb007” for correctly guessing the mystery chart in my latest Name That Chart post.
The correct answer is that the mystery chart was the monthly timeframe of FWLT, Foster Wheeler, the engineering and construction firm.
Here is what ctb007 had to say:
I believe the chart is Foster Wheeler (FWLT). FWLT is in the heavy construction/ industrial goods sector. I am not really sure as to what I think about how it will perform. Freestockcharts.com is not working on my computer. I think if it gets above its 2011 high around 40 it could have a nice breakout and move higher.
In addition, a shoutout to @I_BlackBetty_I on Twitter who correctly pointed out (tongue-in-cheek) that the chart is of the Japanese Candlestick variety.
What do you think about FWLT? Recall it was a late-stage mover in the last bull market’s conclusion.
Thank you to everyone who played.
I will be back later with ideas for Monday.
But I already gave tight analysis in my latest Weekly Strategy Session published, earlier today. Check it out!
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FYI, FWLT is in a buyout right now with AMEC for $16 per share + .8997 shares of AMEC stock, which is currently valued at ~18.50 using the pence/USD current conversion rates. So the stock has total conversion value of ~34.50.
If you have access to the London exchange, I’d look at AMEC, not a bad looking chart itself.
Thanks Chess