In an April 20 Barchart article, I wrote, “The illiquid FCOJ has rallied to an all-time high, and the trend remains bullish on April 20, 2023. However, when the price turns south, watch out! The lack of liquidity that drove prices to $2.8750 or potentially higher during the current trend could lead to an ugly plunge as the lack of participation favors boom-and-bust price action.”
The old saying “don’t fight the tape” dates to when stock prices were disseminated via a ticker tape. Rising or falling prices or the current trend is our best friend in markets across all asset classes, and FCOJ is no exception as the soft commodity rose to another higher high in May.
