FLYI is flying again

FLYI is a small airline, but no so small as its market cap, I believe. You can knowledge more about the company at its website: www.flyi.com

I did invest in FLYI in the beginning of 3 Stocks on Fire and took a 9.8% loss in it. But I show no resentment toward the stock and I really have no problem about buying it again, even at a higher price (I prefer to buy at a higher price, as silly as it may appear).

You know this stock is down 97% from its all time high set on January 2002 around $30. When a stock is down like this I believe any positive fundamental development gives room for a mighty powerful advance.

If you dig a bit through the last news and the company's website you'll find that the number of passengers carried trough Independent Air is growing rapidly.

Technically the chart is screaming for a bull run, look at it:



If FLYI breaks trough the $1.04 significant resistance level you can't imagine what kind of short covering and momentum players will kick in. I believe this is the time for FLYI to fly above that level and bring in new and enthusiastic buyers.


Everyday I will analyze FLYI after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.

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