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Hello investors / traders,
I want you to look at Firstin Wireless Technology, Inc (FINW) tomorrow.
Oversold bounce trades are my favorites, and FINW certainly appears oversold.
Having sold off in a matter of days from multi-month support levels of $0.04 - $0.05, down to where it closed yesterday at $0.025, and with an RSI reading of 38.
Now over the past few days, the selling appears to have significantly slowed, and FINW looks to have consolidated at these lower levels.
As you can see in the chart below, FINW is available right now to traders at a massive 50%+ discount to its recent trading range.
FINW could reward the patient dip buyer tomorrow.
FINW also has a relatively very small market cap of only $2.1m (according to OTCMarkets.com) - another important metric we like to look at.
Yesterday, FINW announced it had signed re-seller agreement with Cloud provider Simpliciti for the re-sale and marketing of its cellular long distance and roaming application.
According to the Company, their application can cut a typical business traveler's cellular bill by over 50%.
Firstin Wireless Technology, Inc. (FINW) operates in the fast growing, multi-billion dollar VOIP market offering simple, affordable and
business-quality international long distance and roaming services to
enterprises and business travelers over smartphones.
Firstin's technology utilizes leading edge VoIP technology for its mobile Apps and platform
that allows for anywhere, anytime mobile communications at significant
cost reductions. FirstIn's top tier communication line architecture
insures superior call quality to its clients.
Over the past couple of years, with the rise of smart phones and mobile VOIP applications, a major shift has taken place with how voice traffic is carried.
And with its low cost, it should be no surprise that VOIP applications will displace mass market, legacy mobile infrastructures in the near future.
You can continue your research into FINW at http://www.firstinwireless.com/
I love oversold charts and playing the bounce. These can often be some of the most profitable trades. Why?
It is sometimes the perfect storm.
Value buyers come in at massively discounted (to recent price) levels. There when there is new buying pressure, short sellers are often forced to cover their position (more buying). Finally, momentum traders come in and ride the wave higher - further putting upward pressure on price.
Of course this doesn't always happen, but is what can and does happen to oversold stocks.
With solid support at these levels, I think FINW could be a strong bounce trade opportunity for us tomorrow.
ShiznitStocks.com
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