After period of absorption/stopping volume, accompanied with an RSI move out of oversold territory and increasing MACDH, could this be the start of a bullish trend reversal?
There is a potential short term breakdown of this large channel that has formed on FARO
I have shown this breakdown in green with the bars pattern.
Likely this breakdown will lead to a double bottom and then push to further highs. Hence my view as a 'short term breakdown'
This is a Bullish indicator signaling FARO's price could rise from here. Traders may explore going long the stock or buying call options. Tickeron's A.I. dvisor identified 45 similar cases where FARO's MACD histogram became positive, and 38 of them led to successful outcomes. Odds of Success: 84%. Current price $68.84 is above $65.37 the highest support line found...
We have to retrace a long way down to correct the long rise of yesterday. We have just started and are holding well below the Bollinger Band at this time.
FARO shares gapped down in today's session and attempt to recover; however, through a technical point of view, shares would react to a certain point and retrace before making its next move. My estimate is at around 53.57 to 54.35. I expect to see some weakness around these areas which could present a short opportunity as marked on the 30 minutes price chart.
Fundamentals :
FARO Technologies, Inc. operates as a 3D measurement, imaging and realization technology company. It design, develop, manufacture, market and support software driven, three-dimensional measurement, imaging and realization systems.
Technicals :
2015 was hard for this company and price dropped from around $63 to almost $20. But now, it shows some...
