Price action has found support in the low 6s, as certain sectors have had stupendous gains this equity has yet to gain any traction. price has been met with buyers stepping in around the current price action. I believe we are due for a reversal to the upside, and as many energy and oil stocks have come out of play some undervalued equities such as this one...
As many you may have noticed or profited like I have on green energy play may it be solar companies or plays like Plug, Gevo, Fuel Cell, and Blink Charging. There are pure momentum and technical plays. However, if you look at those companies fundamentals, one begins to scratch your head and wonder if they have gone too far too fast.
So, another way to play this...
$FF has been consolidating and sideways trading for around four months. This is a very long period without a significant break-up, or down.
The thought, of course, is that this will shift Parabolically UP when the move happens. 70 percent confidence in that... if it craps the bed - this was never advice, just another trader's IDEA. We're looking for a push up...
Please refer to chart. Elliot waves, fib retracements, ABC correction waves, Buy (Support) & Sell (Resistance) areas and price range (A) and future (C) price range, of course (B) is correction wave which is going on right now. Keep charts simple and let charts tell you what they are doing now & future. Enjoy
Also, find out on any stocks you have or options, when...
FF has formed a three peaks formation. Each peak is below the prior peak. This stock has an interesting aspect about it. It has formation mirrors repeated in both the weekly and monthly. It is always fun when you can find repeating patterns across the time frames.
Indicators are down in the daily and weekly. Monthly is neutral. This is a decent short.
