I love getting emails from my members and readers….I feel that the feedback makes my site better.  I especially love stories from people that have traded one of my alerts or blog picks and banked! I also get lots of emails from people asking me to take a look at a stock for them.  Some of them are absolute train wrecks, but others have merit.

Like today’s blog subject:  Fieldpoint Petroleum Corporation (FPP).  One of my readers, Jon, asked me to take a look at it.  I liked what I saw.  It has a real business, decent fundamentals and a great chart.

FPP is a producing oil and gas company.  According to the company, they own over 300 wells in Oklahoma, Louisiana, New Mexico, Texas and Wyoming.  They do a good job of press releasing so traders can get a flavor of their progress….and, they seem to be making some.

I mentioned that they were a producing oil and gas company and, when I took a look at their financials, they are not too bad.  Many oil and gas producers seem to be built solely on hype. Not FPP…they actually have revenues (but no profits).  Their balance sheet, while not strong, will get them through the near term.

Insiders own 38.9% of the company while there is even some institutional ownership.  The company does something on their website that I have never seen before in a company like this:  they have an “ethics” section on their site.  A nice touch and I hope they live up to it.

What really caught my eye is the chart:

• Stochastics indicate that the stock is in oversold status
• The MACD is above the zero line, but is indicating bearishness
• Volume has remained steady (around 50K shares per day)
• Volatility is present in this stock and it could spike again on good news (as it has in the past)

No one can say when a stock will move, but based on the chart this one looks like it might have a move in its future.  The nice thing about the chart is that those moves have been multi-day moves rather than a one-day wonder.

Check out FPP.  Their company website really doesn’t have a lot of information on it, but they are not shy about press releasing.  I plan on watching them closely.  Oil and Gas prices remain high and that should be a positive for a stock like FPP.

Good luck and good trading

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