FSLY - Elliottwave analysis - bear case FSLY - It is in B wave correction after sharp decline in 30 min time frame post impulse finished in 4 hr time frame. Stay bearish when B wave get finished.
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2Y7 trade ideas
FSLY Cup and Handle Break Out of Darvas Box NYSE:FSLY On the hourly Fastly Inc formed a Cup and Handle pattern and broke out of a Darvas box with a volume above the average. Now it looks like it is forming a Bull Flag
FSLY Rebound WaveFSLY on the hourly chart has made a higher low, as well as the daily chart. The hourly is showing a bullish moving average crossover. FSLY is a fast mover so this post was a little later than my earlier entry, where i entered at $74.5. I expect this over the next day or so to move to a higher high toward the $80 range.
Fsly daily chartIf you look at the daily chart, $Fsly broke above the downtrend line and is currently making higher lows. Fsly is now tapping the 73-75 resistance zone, which used to be strong support. The response to this level is critical. It it breaks this resistance, we can see 80 level soon.
FSLY good hold above wave 2 low, target remains 90Nothing much to add on FSLY from yesterday's analysis, but today was good confirmation for bulls, we need to remain above the local low made a few days ago in order to reach desired target. Copyright Rohan Karunaratne 2020
FSLY fake breakout from channelFastly is looking weak, but the breakout (down) was not strong enough, and just gave a nice bounce at support.
Looking for the stock to move back to the resistance of the lower channel. (zoom out to see how far back this channel has been developed.
#FSLYHeavy Resistance ahead. a possibility of a good short from the resistance zone, a close above the zone will invalidate the trade.
$FSLY Fastly Inc may give us a long trade at last.
Potential long entry on a break above resistance @ $74
target dropping 21ma @ approx $80.00
FSLy has outperformed its peers in recent days
FSLY good bounce off wave 2 low, wave 3 target 90FSLY needs to clear the wave 1 top with a decently fast move to the upside in order to confirm a wave 3. Still waiting on more confirmation to confirm a bullish trend, otherwise this could be a 12345 retracement down. Copyright Rohan Karunaratne 2020
fastly: Bounce off $57 and Move to $59 Support lineLooks like a barrier triangle as it didn't break through $73 and hold. Also low volume and resistance at 100ma - so without the volume support, I think it needs to break below $60 before moving up.
FSLY 1-2 pattern, needs C wave below 69 to complete retracementEntry options are beginning of target support box, around 68, all the way down to 67, but not crossing below the late October early November low, that would invalidate the count. Copyright Rohan Karunaratne 2020
Megaphone PatternThese patterns tend to swing back and forth until they break out or break down
At one time FSLY was in almost a parabolic arc pattern (I do not like that term as it seems to screw me everrytime..lol)
Swing trading this pattern can work if you are careful
Gap over price and chances are it will fill...eventually????
Keep an eye on this area as it has gapped wond to the same/almost exact place twice
If you go long, short interest is very low, but keep an eye on it maybe
They seem to know what they are doing (o: They could be playing this pattern as well
Just an observation
FSLY target 70 for wave 2 low, wave 3 target 90If you are wondering about the Fibb levels, I am using 3 main calculations, one is the retracement from the previous top, before we got this drop, the other is the retracement on the micro since the top around 75, and the other is the fibb extensions from the 50 percent of the micro drop down. Copyright Rohan Karunaratne 2020
FSLY good consolidation around 70, target 81 for wave 1 impulseIf FSLY can remain above previous low, good chance a 1-2 structure can begin developing, looking for an impulsive spike into the 80s, followed by retrace to around 70-75. Copyright Rohan Karunaratne 2020
Quad bottom - some buying support around $74.47The chart is indicating a quad bottom support around $74 and some buyers have showed up to defend this critical support. The upside is the gap fill all the way up to $120. Good risk/reward opportunity with tight stop losses.
FSLY Daily clear downtrend 71 No weekly demand nearby Stock dropFSLY Daily clear downtrend 71
No weekly demand nearby
Stock dropped clearly after a range
cmp 68.2 3 oct 2020
$FASTLY - Inside Day #theStrat- Fastly stock has pulled back in the short term after it released an earnings report.
- Looking for a possible bounce back to the mean
- Yesterday printed an inside day
- Above $66.14 looks good for a long
- Below $62.60 will open more weakness
Note : short term trend is down and current volatility necessitates a tight stop loss
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
FSLY with a Megaphone just like SQThe top is basically in for tech. Get ready to short all of these megaphone tops. SQ, FSLY, numerous others.
FSLY should bounce back up into the megaphone and then breach it. Take a long position for the short term if you feel like being risky. I will personally add to my short positions as it climbs.
FSLY micro consolidation, no clear impulse, target still 50FSLY could potentially bottom out around 65, but I am still waiting for a more clear buy signal, either an impulsive move to the upside, or some type of consolidation around the current level. Copyright Rohan Karunaratne 2020
Fastly (Don’t explain your philosophy. Embody it.)View on FASTLY (2 Nov 2020)
Fastly has broke the strong support region of 80-95 region in the recent day and that region has become a resistant.
Now the Price Action traders are trapped.
So, It may be late for a short but as long as 80-95 region is not broken up, we can still see the BEAR move as we forward.
DYODD, all the best and read the disclaimer too.
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