FIGS | Short to Gap Fill

Mar 15, 2022

FIGS may continue its post-IPO decline, even after a big earnings beat. It's in a downward fall and shows weakness after the gap-up. With the Federal Reserve meeting and OpEx this week, it may (at minimum) fill the gap between $14.53 to $15.90 as it moves its way down the falling wedge.

If it gap fills, it may continue the fall, but I wouldn't be surprised if it tested resistance at some point in the near future given the earnings beat.

Mar 24, 2022

Trade closed: stop reached

❌ Broke through original resistance (likely just a bit higher)