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FRG: Ascending Triangle Formation

Fronteer Development Group has been marked as a BUY in our uranium stocks portfolio for roughly one year and it is showing a gain of about 170%.

FRG: Ascending Triangle Formation

We are very pleased with FRG's progress and we will continue to own the stock for the long term. However, looking to the short term, Fronteer appears to have formed an ascending triangle formation and this means that any significant break upwards or downwards out of the triangle, could be followed by a run in that direction.

Recently, we also saw an ascending triangle formation in Silver Wheaton, a BUY on our silver portfolio on our website Silver Wheaton broke up out of the triangle and then proceeded to surge to an all time high.

It would be great to see FRG put in a similar performance, so we will be watching FRG very closely for a breakout, which should come in the next week, or even in the next few trading sessions.

Our readers will be kept fully updated on any progress in FRG and any possible trading signals we may give on the stock.

Fronteer Development Group trades as FRG on AMEX and the TSX.

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