$FWDI — Forward Industries
Clean basing structure after an 87% drawdown. Peaked at $46 last September, bottomed at $3.48 in June. Six months of floor-building since.
Current price: $5.93. Holding above the $4 shelf where it consolidated all spring. Now grinding toward $6.46 — the resistance cap that's been in play since February.
Above $6.46: next structure is $8.99, then open air to the first fib level at $13.51.
Option flow is thin, but the positioning tells a story — nearly every large position is a call, sitting at $7.50 and $10 strikes. That's not random.
The setup: reclaim $6.46 with conviction, and there's minimal resistance overhead. The floor is built. The structure is clean. The next leg depends on whether it can break and hold above that $6.46 line.
Invalidation: break back below $4 and the base is compromised. Until then, this is a textbook reaccumulation pattern with clear levels to trade around.
Clean basing structure after an 87% drawdown. Peaked at $46 last September, bottomed at $3.48 in June. Six months of floor-building since.
Current price: $5.93. Holding above the $4 shelf where it consolidated all spring. Now grinding toward $6.46 — the resistance cap that's been in play since February.
Above $6.46: next structure is $8.99, then open air to the first fib level at $13.51.
Option flow is thin, but the positioning tells a story — nearly every large position is a call, sitting at $7.50 and $10 strikes. That's not random.
The setup: reclaim $6.46 with conviction, and there's minimal resistance overhead. The floor is built. The structure is clean. The next leg depends on whether it can break and hold above that $6.46 line.
Invalidation: break back below $4 and the base is compromised. Until then, this is a textbook reaccumulation pattern with clear levels to trade around.
