FMCN Displays a Good Chart

Chart patterns seem to attract my attention. FNCM has formed a double bottom with support at 23 and broke above its 50 day moving average on August 15. I consider these actions a positive sign.

Focus Media Holding Limited (FMCN) operates out-of-home advertising network using audiovisual digital displays in the People's Republic of China.

Pluses at this time are:

• Volume at approximately 3.26 million average shares/day
• P/E is at 19 (slightly high for my taste)
• Current price at 55.8% below the 52 week high
• Steady earnings increase since '04

Trading today at 29.59, FMCN may be a stock worth taking a second look.

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