NewTechnical Report is FrogAds Inc. (FROG)! Hurry up and put FROG immediately on your radar and on top of your watchlist tomorrow morning as the chart looks to be ready to make another leap higher after recently pulling back! Before we get into the technical chart of FROG, lets focus on the recent $1.38 price target given by a well known research company. Obviously this is not our opinion, but the research report which can be found <(click) here>, provides a detailed summary on the $1.38 price target or up to 300%+ from today's closing price of $.29!
The report later goes on to say that, "We believe that with a rapidly expanding user base and significant market opportunity, FrogAds is expected to achieve enormous growth. Our conservative estimates forecast revenues to grow from $0.5 million in FYE March 31, 2012 to more than $30.6 million by FYE 2018. Based on these projections and provided that the Company raises $1.0 million in equity funds, our Cohen Target Price is 306.5% higher than the current price." Again <click here> to read full research report>.
A lot of times we talk about evidence of how a company is really performing, FROG has the numbers to prove it. Just a day ago the company announced that, "Today, FrogAds.com's regional traffic rank hit a new record as it surpassed the 30,000 mark. The website is now the 27,732th most visited website within the United States". So we clearly see that FROG is taking the right steps to brand their emerging growth story. You can view the full release below!
Looking at the technical chart below, we see FROG pulling back or dipping after bouncing in its current trend. If the pattern or history serves us right, FROG maybe be setting up for another leg up in its chart. This is indicated by the last green candle showing, which suggest that another technical bounce might be nearing! We also see that the support level for FROG is right about the $.29 close today, which also provides another indiciation to this pattern. Today FROG closed at $.29 or down a whopping 50% from the 52-week high of $.59! Now with the recent price target given by an independent firm of $1.38, can we be in store for a reversal in technical trend? This might be very possible if the combination of shorts covering, momentum continues and more investors see the potential in FROG emerging growth story!
Just a day ago the company took another huge leap by announcing that, "it has rapidly advanced upon its U.S. expansion plans with the opening of its second office on the West Coast. The new office, located in Woodland Hills, California, will serve as the central programming hub of the company and immediately follows the opening of the Company's first East Coast office in Philadelphia. "FrogAds.com is growing by leaps and bounds within the U.S., rapidly moving up the charts as one of the most visited websites in the country," stated Julian Spitari, Chief Executive Officer of FrogAds.com. "As the site becomes more and more utilized as a primary destination for buying, selling and advertising in the U.S., it is essential that we create a designated office for our programmers to collaborate on new technologies for its continued enhancement."
Spitari concluded, "This office, in effect, will serve as a 'lily pad' from our current LA headquarters where we are managing our global operational growth. We will start by staffing it with programmers." Today, FrogAds.com's regional traffic rank hit a new record as it surpassed the 30,000 mark. The website is now the 27,732th most visited website within the United States. For additional information, please visit www.frogads.com or contact Meryl Orshan at 1-800-625-2236." <Click here to read full news release>.
Again put FROG immediately on your radar tomorrow morning as we monitor the current technicals and corporate developments this week!
More on FrogAds Inc.:
FrogAds, Inc., is a rapidly growing company that provides online classified ads. The Company, through its internet site FrogAds.com, provides a simple yet revolutionary platform for online buying, selling, and internet advertising. FrogAds.com enables free listing of products and services for sellers and assists consumers to make purchases in an easy and efficient manner by category and geographic area. Learning from the success and failures of current large websites, FrogAds has developed a sophisticated website that incorporates additional features such as free classifieds, online auctioning, photo/movie upload, banner exchange, affordable commercial advertising, etc. The key to success is driving internet traffic to the FrogAds.com website that will increase commercial and banner advertising revenue. Visit: www.FrogAds.com
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