FTGX

[fous]

Breakout on record volume and on news that it as doubled it customer base since last year.

FiberNet up after reporting strong demand for network svcs (FTGX) By Michael Baron
NEW YORK (MarketWatch) -- FiberNet Telecom Group (FTGX) shares jumped 80% to $2.70 on Tuesday afternoon after the New York-based company said it's seen strong demand for its network solutions services in the past year. The company said orders for the year ended in June doubled over the same period the previous year, and that this will contribute significantly to its revenue growth for the year.

[fous]

Company profile:

FiberNet Telecom Group Inc. The Group's principal activity is to provide wholesale broadband connectivity for data, voice and video transmission on its state-of-the art fiber optic networks. It offers an advanced high-bandwidth, fiber-optic solution to support the demand for network capacity in the local loop. The Group provides three general types of services: TheTransport services provide broadband circuits on the Group's metropolitan transport networks and in-building networks. The Colocation facility services provide customers with the ability to locate their communications and networking equipment at its carrier point facilities. The Communication access management services provide customers with the non-exclusive rights. These rights enable the customers to market and provide their services to tenants in the on-net and off-net buildings. On 30-Jan 2004, the Group acquired operating assets of Gateway Colocation.

[fous]

FTGX had some good movement today up 5.06% and +$.12. This rebound is supported by a prior support area back in early August. With Double the Customers from last year we would expect double the revenue, which should reflect on the stock price. As it did on the release of the news of the double the customers and rose a staggering 62% on decent volume and then the day following reached as high as $4.35 on huge volume 1.5 million! Of course a huge rise like that on a company that has been in a steady downtrend since 2000. FTGX has a nanocap of 12m so the stock price can be extremley volatile. After the release of the news price action rose 182% in 2days. Todays volume was ,above the avg 61k and above the 60 EMA vol of 85k,  at 93k so more interest is picking back up in this company. I think we could see some significant higher prices in this stock in the near future.

TA:

-FTGX has been in a downtrend since 00'. It began nice downtrend line in late in 01 and has been tested numerous times to confirm the trend. Also the 200 EMA has been serving as a major barrier since the beginning of 04'. Price action retested the 200 EMA on 9/14/05 the day after the release of double the customer base.

-Todays opening price was held by prior support from last month. I won't be surprised at all if we dont see price action drop below 2.35 anytime soon.

-Price action has been following volume down on the retracement until today we had a 5% gain and increased vol above the 60 vol EMA.

-I think that price action is going to retest the decending trend in the near future. Even if price action was only to retest the line again In 30 trading sessions it would be at $4.13 would be a 64% gain.

-With the news of double the customers from last year, increased revenues, and record vol 2359% above avg on the 14th after the news release, i think this company has hit rock bottom and is looking to make a trend reversal. Q3 earnings come out on 11/07/05.

Guess we'll just have to wait and see.

Best of luck all,

-fousc

Todays Charts:

[fous]

up 10% on friday but were lacking volume. We'll see what happens this week.

-fousc

[sebfr]

Time to buy Close > MA50

buy at 2.100
target at 5.000
stop loss at 1.500
ratio = 138/40 = 3.45..

fundamentals :
Today the Bellwether Report has identified FiberNet Telecom Group Inc. (Nasdaq:FTGX), a company that our analysts will be tracking over the ensuing weeks. They recently came out with a significant corporate development this month, causing a positive correction. For a full report on the below mentioned company, and many more, feel free to visit www.bellwetherreport.com for a free 30 day no obligation trial.

Atari Inc. develops interactive games for all platforms and is a third-party publisher of interactive entertainment software. The company's 1,000+ titles include hard- core, genre-defining franchises such as DRIVER, The Matrix, Stuntman and Test Drive ; and mass- market and children's franchises such as Nickelodeon's Blue's Clues and Dora the Explorer, and Dragon Ball Z . Atari, Inc. is a majority-owned subsidiary of France-based Infogrames Entertainment SA.

Today, November 8, 2005, Atari Inc.'s share price has increased 7.81% and volume has jumped above average to over 1.7 million. These positive increases follow three exciting announcements made by the company this morning. Atari announced today the appointment of three new member s to the company's Board of Directors which brings the total number of Atari directors to ten. Ronald C. Bernard has been appointed to the company's Board of Directors and will serve as the chairman of Atari's Audit Committee. Michael G. Corrigan has been appointed to the company's Board of Directors, where he will serve on the Audit Committee and Evence-Charles Coppee has also been appointed to the company's Board of Directors

"We are delighted to.....

Technicals :
end of retracement (very good with a ratio of 0.800)
Divergence in MACD. MACD > 0 and RSI > 50 and +di > -di and ADX < 23 (good potential) -> new advance

[dwest718]

seb... I think we're reading each others minds!  I found this thing last night around 11 and thought it looked really good with solid volume and positive MACD and a break of the 50 dma.  Solid movement in past two days and bottoming out on several good news releases in past few weeks.  Bounce on this news:
http://biz.yahoo.com/prnews/051108/nytu024.html?.v=31

Bottoming out on these releases:
http://biz.yahoo.com/prnews/051103/nyth179.html?.v=22
http://biz.yahoo.com/prnews/051024/nym007.html?.v=23

Solid looking chart and forgot to watch it today... up 6% today and up 25% AH w/ earnings being announced tomorrow... I'm gonna keep watchin it but looks like I was two days late on this thing.  Atari might do something similar though... check out that thread.

[dwest718]

Does anyone know what's causing the price movement today?  Earnings report didn't look that bad but I didn't check/see the guidance.  Anybody got any thoughts?

[Terliso]

Might wanna take a look at FTGX again

[shipman]

FTGX it's back 7 million float diluted

[shipman]

Intraday G-formation?

[Holygrale]

This is looking like its about to explode...........Cant seem to find any news anywhere.

Looking to get in.............

[Ares]

RSI,Stochastics shows overbought but if it closes above the doji as a white candle - isn't that a continuation pattern?
Volume increasing too.