Tim, Should I buy FiberTower Corporation (FTWR) stock? By Tim - http://stockstobuy.org
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.
