Bullish FSLY to $98 then $107.50, stretch goal $124

22 sie 2020

I'm seeing lots of bullish signals on the daily chart:

- ton of previous support around $80
- 50 EMA came up to ride that $80 support for several days
- MACD trending upward, MACD line may cross signal line upward in a few days?
- Thu/Fri formed a bullflag, price target around $98
- earnings gap that could be filled, price target $107.50
- pattern of higher highs, price target $124

If the bullflag doesn't fire we should still see that support around $80. I would be bullish unless we get a daily open below $75 and that same daily candle closes below $75 (even if it pops up intraday).

1 wrz 2020

Zlecenie aktywne

Hit first price target, today's dragonfly doji (Aug 31) looks bullish to me still. Buying volume and MACD still looking good.

3 wrz 2020

Komentarz

The whole market's down today, likely just profit-taking since it's been a huge couple of weeks and next Monday is a holiday (short weeks are often either down or quiet).

If FSLY can close today above $82.50 then IMO it's a run of the mill correction and I am still bullish. Below that I would consider this setup done and then rechart based on what happens next week.

At least we hit the first target =) Always take some profits when you can.