We noted in earlier blog entries that the Fidelity Small Cap Discovery Fund (FSCRX, last change: 0.00%) has been an exceptional performer since the lows of last summer. Just in the last three months FSCRX has produced a 20.41% gain! The downside of the great performance is that FSCRX is becoming increasingly overbought. Consequently, we would not commit new funds until the next market correction.
The Fidelity Low-Priced Stock Fund (FLPSX, last change: 0.07%) shows a similar bullish chart pattern.
We highlighted the Fidelity Nordic Fund (FNORX, last change: 1.54%) as Fidelity’s best international fund in the February 2 blog. FNARX has corrected ever since, but has made a new high again. This is considered a highly bullish price pattern.
Buy/sell signals for Fidelity funds are available at FidelitySignal.com