I can see two scenarios playing out with FCEL:
1) The stock is sitting on the 200EMA and tested it July 3,5, and 8th (Today). Seems to want to stay above it.
So, either it will lay flat in this area (.72-.68) or it will drop (possibly gap) back down to the .54 area. The 3 day trend would imply that could happen, unless from the 3rd forward is a Pennant. In which...
This stock gapped up pre market, and had a decent run today, but ended up pulling back down to support towards the end of the day. We will be watching levels, 0.4350 / 0.4950, for possible bullish trades tomorrow. If we get no buyers and only sellers tomorrow with low volume, I would expect us to pull back below 0.37.
I'm continuing to watch this stock closely. I am a low-level trader and don't have tons of money in this stock,
but nobody wants a loss of even a dollar if they don't have to. If the .67 mark is confirmed in the following days
then I suspect the .80/.81 upper resistance will be broken. Or, it could go the other way. Still too early to tell.
News has been nothing...
This would appear to me that there will be a pullback to about the .54 area. Maybe .57-.60.
Depending on if it gaps on open again. In which case .77 could be the new lower support if
it drops during consolidation.
If you notice the downtrend side: June 5, 7, and 14 the stock dropped below .77 (5th),
.54 (7th), and .39 (14th).
Now compare to the uptrend side...
The volume seems to coincide with a reversal, but I'm inexperienced so I may be wrong.
One of the previous low-resistance lines has been passed 39-40 cent area.
If it does a double bottom off that mark through the week, I suspect it will continue to climb.
There hasn't been any negative press. Additionally, several articles have come out about renewables
Does this look like full-reversal to anyone more experienced?
The 5-day trend is up, and it seems to have broken (or is close to breaking) the 24 cent mark set about 3 weeks/1 month ago.
I am a complete amateur so insight would be helpful! Thanks!
Seems forming a fallen angel type for formation. Showing upward momentum. Moneyflow is accumulating & volume increasing as well. However we would like to wait for trader confirmation.
You can check detailed analysis on FCEL in the trading room/ Executive summary link here-
Time Span- 4:45"
Trade Status: Pending