Foresight Autonomous (FRSX)* $3.38 is added to the LOTM: Ten Under $10 for the Double List.
Chart source Finviz.com
ABOUT:
Foresight is a spin out from the Israeli Military. Foresight can detect any object on any road,
in any lighting and weather condition. It is a mature technology, field proven. It is automotive-grade, and a cost-effective solution for a wide range of markets.
The sales are negligible, but multiple world class OEM companies have early-stage signed contracts to work with Foresight. Applications include passenger cars, public transportation and fleets, commercial vehicles, defense and security platforms.
STATS:
Link to Finviz.com for chart, news & stats
Shares outstanding: 69 million.
Market Cap: $215 million
Sales: N/A
Link to most recent quarterly
Cash: $43 Million
Debt: None
Technical Price Observations
- Price is in a down-trend.
- Moving averages are still in a declining trend.
- Downward momentum beginning to wane. See MACD in chart below.
- Price has not based or entered Stage One chart pattern. Still stage four declining pattern.
- Likely over-sold. Decline from $12 to current $3.38 price in three months. See RST in chart below.
- CFM indicates institutional accumulation has begun – about April 20.
See chart below:
Suggested approach to positioning:
Revies the web site for familiarity to the company and technology. Review the most recent Quarterly report Dec 31, 2020. Linked above. This is a strong forward technology and autonomous driving a real emerging event that we suggest scale-in approach typically called dollar-cost-averaging. There is the probability that we will see a V shaped recovery in the price, rather than a saucer shaped Stage One basing pattern.
LOTM is adding FRSX to its LOTM: Ten Under $10 for the double list this week.
We are certainly looking Forward to what might be. We have no future price target. This is not based on a Value approach, based on current revenue, cash flows and balance sheet.
An account related to LOTM has initiated a small position in the shares of FRSX.
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Where Value meets Buy Signals!
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* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Please refer to our web site for full disclosure at www.LivingOffTheMarket.com ZTA Capital Group, Inc.
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