FIGS: is likely to start establishing itself between 7 and 13
Stock has bottomed out at 6.93
Analysis of stock’s price action shows that FIGS has probably reached the bottom at 6.93 and is likely to start establishing itself between 7 and 13. It seems a bearish sentiment which started since 2021 has finally come to an end. Strategy should be focused on taking advantage of price weakness rather than chasing the price.
Opportunity to buy dip
Although the downside risk still persists, analysis of historical performance and trend points to possible change in sentiment during 2023. In an optimistic case FIGS price can reach a range between 28 and 50 by 2025. Given the pattern, buying opportunity arises if price falls between 7 and 9.
Analysis of stock’s price action shows that FIGS has probably reached the bottom at 6.93 and is likely to start establishing itself between 7 and 13. It seems a bearish sentiment which started since 2021 has finally come to an end. Strategy should be focused on taking advantage of price weakness rather than chasing the price.
Opportunity to buy dip
Although the downside risk still persists, analysis of historical performance and trend points to possible change in sentiment during 2023. In an optimistic case FIGS price can reach a range between 28 and 50 by 2025. Given the pattern, buying opportunity arises if price falls between 7 and 9.