Anything look familiar here? I highlighted Dec when price action was similar to last week. It basically doubled but I doubt that kind of reaction happens here. But it is obvious there are buyers. I like FEYE and have Jan calls. I think this sees $30 before the year is done.
80% of the time, gaps fill and 80% of the time the trading vehicle will revert back after filling the gap.
18% return approx: timeframe uncertain
FEYE gapped down on the good news of announcing the sale of their products business for $1.2 billion so they can focus on SaaS/cloud and a $500 million dollar share buyback program.
Funny how the market acts...
FEYE has been building a base for almost 5 months now in the form of a bullish pennant and is just beginning to break out.
The reason FEYE is different than CRWD is that they are more of a service in times of crisis than a monthly/yearly subscription to the software (although they do that as well and are involved with cloud services). They are the crisis team...
After moving into a flag from end of December 2020 to half March 2021, the price has been going sideways from March 15th, using 19$ as strong support area and 21.5$ as support.
Within this channel the price has rebounded on support with volume on Apr 29th and May 13th and in my pinion is going to attach the 21.5$ resistance again in few days.
In my personal...
Despite it's post-earnings curl-over, FEYE still looks on track to make steady gains. It didn't jump higher or lower coming out of that downward sloping channel ... it just got on the upward track and is inching along. Works for me!
Watching FEYE for a potential break of the resistance zone. Although the company is currently unprofitable, it is expected that it would become profitable by the end of the year with a P/E of 47ish. The company has growing revenue, which is a positive sign.
(This is not financial advice)
Hey guys, this is a quick look and TA on FEYE that I decided to take a look at. FEYE has flown under the radar on the technology sector but is a very solid company and I am confident in it for the long term. Short term it seems to be bouncing off this bullish flag as well as the Fib Retracement pretty well. Along withe fact that on...