At point 1, I noticed that after it gapped down it went right back up. Now we are seeing a gap down at point 2, what do we expect? Maybe similar to point 1. Make sure to like and share this analysis with every you know. Comment your support and opinion below. TRADE WITH PROFITS.
Warning, this strategy is not suitable for all stocks but just a handful of them.
All indicators are there for a run. May go through June. broke resistance the other day. anyone remember APPN? ya ya ya. giddy up.
Buy under 100, it'll ride to 148ish .
$101 is a strong resistance for FSLY right now, FSLY today has crossed 100 and closed above it, it remains to see if 100 becomes the new support. If it bounces off 100, it will reach at least 115.
Completion of wave 4 on FSLY going into the close, target wave 5 o 90, and then an ABC retracement to around 77, but that is a tentative target. Copyright Rohan Karunaratne 2020
View on FASTLY (2 Nov 2020)
Fastly has broke the strong support region of 80-95 region in the recent day and that region has become a resistant.
Now the Price Action traders are trapped.
So, It may be late for a short but as long as 80-95 region is not broken up, we can still see the BEAR move as we forward.
DYODD, all the best and read the disclaimer too....
Fastly trades at at a price-to-sales ratio of 32. AND that's after a 40% drop in its share price and a guidance cut.
I mean, there are 4000+ other stocks to pick from and probably 10 other similar names in this space. I'm not sure I understand why so many people are crazy bullish about this name. Unless you think they can double and triple their revenue for the...
Like I stated before, if price goes back above 90 and successfully retest the lvl, then bulls have the chance. If not, potential play is to build up shorts inside supply zones, then close the shorts and flip long once the price lvl is inside the buy zone.
Trend line is temporarily broken and there was no strong bounce back after the price crashed to the confluence zone of POC, 50 SMA and fib 38.2 level, indicating a weak demand at this lvl. There is little sign of decreasing selling pressure at this moment.
If FSLY doesn't get back above the resistance and supply zone of 90 convincingly in the next days, party...
Close to my double bottom target in previous video but I'm leaning towards further correction to see that double bottom or ~70 at this point. Will turn more bullish if this move up turns into a 5 wave and breaks above ~85
