Looking at Fisker over the past 8 weeks they have made a good recovery off their near term lows and formed a Bullish Continuation Pennant or Flag Pattern. Now on it's own this pattern is not overly successful however I'm also seeing 6 Bullish signals that have formed over this time span and ultimately are confirming a Potential Bullish Breakout. The height of the flagpole is approximately $2.64 so the possible move could take it from $6.00 to $8.64 for a 44% move.
The other 6 signals are.... Bullish Keltner Channel LE Signal on July 13, Bullish MA Cross on August 31, Bullish MacdLE on August 25, Bullish Divergence on the MFI, Bullish Divergence on the TSI. The price has also began to trend over the 7 day Exponential Moving Average for yet a sixth Bullish signal. Right now the share price is trending just below the 50 day Exponential Moving Average with a minimum possible move up to the 200 day Exponential Moving Average at $6.70 so that could be a smaller move from $6.00 to $6.70 for 11.7% in the near term. As well it could retest the recent high at $7.05 that would give a move of $1.05 for a 17.5% move up. One final Bullish note is that the lower trendline that runs back to late April has been touched by price candles on 6 occassions and the current price candle are consolidating near the top trendline rather than lower within the consolidating pattern.
The other 6 signals are.... Bullish Keltner Channel LE Signal on July 13, Bullish MA Cross on August 31, Bullish MacdLE on August 25, Bullish Divergence on the MFI, Bullish Divergence on the TSI. The price has also began to trend over the 7 day Exponential Moving Average for yet a sixth Bullish signal. Right now the share price is trending just below the 50 day Exponential Moving Average with a minimum possible move up to the 200 day Exponential Moving Average at $6.70 so that could be a smaller move from $6.00 to $6.70 for 11.7% in the near term. As well it could retest the recent high at $7.05 that would give a move of $1.05 for a 17.5% move up. One final Bullish note is that the lower trendline that runs back to late April has been touched by price candles on 6 occassions and the current price candle are consolidating near the top trendline rather than lower within the consolidating pattern.