FEVR
is still in an overall uptrend on the monthly and weekly timeframes. On the daily chart price is above both the 50 and 200 simple moving averages.
As we know the 50 sma is normally used as support in an uptrend and that seems to be the case with this stock.
At the moment price is reacting to the 50 sma and has bounced off that area.
If the buyers can keep up momentum then we may see some further strength to the upside.
The next thing we need to look for is a break above the previous resistance level.
Waiting for breakouts is ideal in most situations because it confirms movement in the direction of the breakout.
If we do have a breakout in price then we can look to open positions in this stock but as for now it is best to stand aside
and wait for price to make the first move.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading