FSR on the one hour chart completed a trend down from Wed June 23 to Tues June 27 and
appears to have reversed. FSR has gained about 12% in 3 days on the bounce.
The following are signs of bullish momentum:
1. Price is supported by an ascending linear regression line with a period of 50
2. The MACD lines crossed over the horizontal zero line on Tuesday, June 27th. This is a zero lag setup.
3. The RSI strength crossed over 50 the following day.
4. Price crossed over the volume profile's POC line on Wednesday, June 28 showing gaining bullish momentum
5. Price crossed over the mean VWAP anchored to the beginning of the prior downtrend on June 29th another confirmation of bullish momentum.
Overall, FSR appears to be well setup for a swing long trade which I will take.
Trade active
⋅
FSR trade-off to a good start on a Friday when typically profit-taking suppresses upward price movement. Trade management- stop loss raised to above break even- Trade is now risk-free and so will be profitable.
FSR has run 11% since the idea uploaded a decent return in one week= call options are up 88% for one week. Expect more running full position of shares and calls into next week EV sector strength right now with RIVN TSLA NIO XPEV NKLA GEOV ARVL all in the mix. RIDE stopped running with traders of RIDE moving onto others.
Trade active
⋅
FSR is up 25% since the idea was uploaded. Options 228 % this is a major rally. I will now take off half of the stock and options positions while on the watch for overextended and overbought signs of topping including bearish divergence on the MACD or RSI.
Trade active
⋅
Took some profits @ 7.08 and watching the pullback to add to the position.
Nice idea!! very well explained on all factors, thanks for sharing
AwesomeAvani
⋅
@AMIT-RAJAN, You're welcome. FSR NKLA WKHS PLUG GEOV all seem to be trending together. Must be big institutional money accumulating positions.
Maddy50
⋅
@AwesomeAvani is fisker ready to really ? plus share ur view on arrival
AwesomeAvani
⋅
@Maddy50, It seems that FSR pulled back 7/13 and 7/14 with a reversal about 3:00 PM on Friday on the low TF chart. I will be looking to add to my position targeting 7.1 and 7.5 as the first and second targets over a stop loss of 6. I will take a look at Arrival.
Maddy50
⋅
@AwesomeAvani, i bought few the last week and booked yesterday with 40 cents profits on each.. didnt wait till it goes to the higher side. Still a good bet to target for 7.10 ?
AwesomeAvani
⋅
@Maddy50, ARVL looks good for another run to $3.50 see this link for my idea from 6 weeks ago
Maddy50
⋅
@AwesomeAvani, i had bought 500 units at 1.99 $... what does stock reverse split will do here.. any thing positive will happen?
AwesomeAvani
⋅
@Maddy50, Price nearly hit 2.1 one week ago. I believe after the pullback it will continue and reach then cross the target. A reverse split if it occurs changes nothing. Based on the ratio of the reverse you will have less shares but proportionately each will be worth more. The total share value will still depend on market structure and dynamics.