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Wednesday, August 31, 2011

Buy FiberTower Corporation (FTWR) Stock?

Tim, Should I buy FiberTower Corporation (FTWR) stock? By Tim -

Thanks for the question! FiberTower Corporation (FTWR) is an interesting company but has seen their stock drop off a cliff recently. FiberTower Corporation (FTWR) has been really showing strong revenue growth over the past 3 years but they continue to lose money.

FiberTower Corporation (FTWR) stock is up 37% to $1.11 this morning on no news. FiberTower Corporation (FTWR) is also trading back above the 50 day moving average located at $1.09. In the technical analysis world, this is normally a buy signal that traders look for in order to buy back into the stock. These same traders will probably be putting a tight stop order at $0.99.

I usually don't buy a stock unless it breaks previous significant highs. FTWR has resistance levels at $1.73 as well as $2.09.

For a quick trade, I plan to buy FTWR on a break above $1.73.

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