$FOXF Breakout Failure Reset$FOXF is another low risk entry setting up breakout failure reset right at its 50 MA.
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About Fox Factory Holding Corp
Sector
Producer Manufacturing
Industry
Auto Parts: OEM
CEO
Michael C. Dennison
Website
ridefox.com
Headquarters
Duluth
Employees
4.4K
Founded
2007
ISIN
US35138V1026
Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all - terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. It operates through the following geographical segments: North America, Asia, Europe and Rest of the World. The company was founded on December 28, 2007 and is headquartered in Duluth, GA.
Ride the 3rd of the 3rdChart is presenting a great Elliot Wave Structure. Theres a good short interest on the stock. Possible short squeeze.
Wave characteristics -
Wave 1 (Complete) - Very good looking wave without any overlaps. nice Fibonacci relationships within sub waves. 3rd was nearly 2x of wave 1. Wave 4 was .23 o
FOXF a very technical stockFOXF stock has been trading with very consistent and now well tested support and resistance lines. See chart for details.
FOXF Key LevelsSee chart for some key levels:
Support at 46
Support at 70
Resistance at 113
High at 190
FOXF compressed, ready for reboundFOXF can be considered a COVID stock. They sell suspensions for mountain bikes and off-road vehicles. As with many other COVID stocks, FOXF is down ~50% from its high just a few months ago.
When looked at with weekly candles since 2016 (7+ years!), we can draw 3 roughly parallel lines reflective
Flat top breakout by EOYFOXF has been trading horizontally for a few months forming a flat top wedge (bullish) pattern. I expect this may continue until next earnings (Nov 2) wherein the wedge may break bullish. I'll be watching the pattern until then.
As well, many technical indicators are showing weakness from the horiz
$FOXF Inverse (Continuation) Head and Shoulders Setup$FOXF is now morphing into a more defined inverse head and shoulders continuation setup. Earnings in 2 days. Seems like all nice looking setups have had earnings just a day or 2 out making them hard buys (or gamble buys).
$FOXF Cup with Handle Setup$FOXF cup w/ handle looking good. Green on all IBD rating metrics. The only knock off against it multiple higher than average selling days. OBV reflecting that by sloping down. Vol drying up at the handle is a very positive sign.
Sharing my thought process!
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