FCEL (FuelCell Energy) is positioned at the apex of a descending wedge near a key support zone.
Apex of descending wedge: Price is compressing at the wedge tip, signaling a likely breakout move soon.
Double bottom structure: $8 is the neckline zone, previously broken and now acting as resistance; a reclaim would confirm bullish intent.
Support bounce: Recent reaction at the 50-week SMA and major Fibonacci retracement levels ($7.73, $6.75) reinforces support.
Entry plan: Look to go long above $8 on wedge breakout; targets set at $16–$25 extensions.
Stop loss: Suggested below $6–$7, under wedge and SMA support.
Setup offers clear directional triggers and well-defined risk/reward.
Apex of descending wedge: Price is compressing at the wedge tip, signaling a likely breakout move soon.
Double bottom structure: $8 is the neckline zone, previously broken and now acting as resistance; a reclaim would confirm bullish intent.
Support bounce: Recent reaction at the 50-week SMA and major Fibonacci retracement levels ($7.73, $6.75) reinforces support.
Entry plan: Look to go long above $8 on wedge breakout; targets set at $16–$25 extensions.
Stop loss: Suggested below $6–$7, under wedge and SMA support.
Setup offers clear directional triggers and well-defined risk/reward.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.