Fuwei Films (FFHL) looks ready to resume

There weren't too many charts that jumped out at me over this long holiday weekend. Many stocks look like they are in the middle of moves which isn't really the best place to enter a position. ICE for example is certainly looking for a top now that it moved up out of the channel it had been in and looks parabolic (typical of climactic moves). However one decent looking company that just did an ipo about a month ago has a solid chart. There are no options traded on FFHL, but this fast moving Chinese film (materials) technology company looks ready to resume it's uptrend. Of course there is little history to make technical trade decisions based on, however the strength in volume and price following the ipo and the well formed flag consolidation are enough to bring FFHL to new highs in my humble opinion.

As far as their fundamentals, I couldn't find much. From yahoo:
"Fuwei Films (Holdings) Co., Ltd. and its subsidiaries principally engage in the development, production, and distribution of biaxially oriented polyethylene terephthalate (BOPET) films. Its BOPET films are high quality plastic films used in consumer based packaging, such as food, pharmaceutical, cosmetics, tobacco, and alcohol industries; imaging, such as masking films, printing plates, and microfilms; electronics and electrical industries, such as wire and cable wraps, capacitors, and motor insulations; and in magnetic products, such as audio and video tapes. The company’s principal products include printing base films; stamping foil base films; metallization or aluminum plating base films; laser holographic base films; matte films; and high-gloss films. It sells BOPET film products to customers and distributors in the flexible packaging industry. The company markets and sells its products in the People’s Republic of China, the United States, Japan, and southeast Asia. Fuwei Films (Holdings) Co. was founded in 2003 and is headquartered in Weifang City, the People’s Republic of China."

Ps. I have been working on software to interact with the Interactive Brokers API (program interface). If any readers use the IB TWS API or write code to assist in trading on other platforms, I would love to exchange ideas with you about your software.