2Y7 trade ideas
$FSLY Fastly, Is all the bad news out ? Earnings Risk
Is it worth the risk, the bad news is out and the earnings call
gives the company the opportunity to address investors and analysts concerns.
The stock is oversold and on support which held on 3 previous occasions.
The risk to the downside remains considerable despite retracing 50% already, the 200ma
and Fib Gp is the next support @ $55-$60.
Upside potential is possibly more limited but bulls would hope for a visit to the
.382 Fib level.
Time To Try Some FSLY LongThis is a fairly straightforward trade idea and I'd like to take this FSLY long off of it's support zone. It reminds me a LOT of the LULU call I had a few weeks ago that printed money, so here's hoping this does the same. Obviously a close below this level would be terrible for the stock, so I'm basically going to be long with a target of 100 until that happens.
Cheers!
FSLY - Long watchFSLY - currently at the the major support level. ER coming soon so need to watch for the interesting price movements.
Note : Doji formation at the support level may indicate the reversal.
Note : This analysis is only for educational purpose and it should not be used as investment guidance. Please do your analysis before initiating any positions on the stock.
FSLY ER/Run-up PlayFSLY LONG
Weekly ER/run up play. FSLY recently sold off to guidance loss. I think the sell off has reached an end and should reverse now. It closed right on support (red trend line) with a dragonfly doji on the daily. The ER is on 10/28 AH
Optimal Entry
As long as it opens above support it should be good for a reversal. Possible gap up PM. I'm not entering if it's higher than 79.5.
PT purple resistance
SL red support
Contracts
I'm expecting a beat for earning but since they have bad guidance forecast I will be making a straddle.
Buy the 10/30 80c, sell the 85c, and buy the 65p.
Net debit should be around 2-2.5 (break even would the be around 62.5-63 on the downside and 82-82.5 on the upside, so around 18% on the downside and 8% on the upside.
You can play the run up however you want.
Close the contracts before 10/28 closing if you don't want to lotto. The above contracts are for the ER gamble.
Careful hereThere is major support at this level!
I am torn to going long, but there is a lots of uncertainty regarding The tiktok effect!
Will see what happen with the election and any further issue coming from the White House..
Also watch out for earnings! They revised down, so it’s never good, even at earnings could keep going down to next support