FSR: Solid Technical Play on Breakout From Consildation for NYSE:FSR by RobertTheTrader

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FSR has been consolidating since early december between 14-16 range along with forming a downtrend line since it's highs in late November. Stock is gapping up pre market breaking through that $17 resistance level on Morgan Stanley launching coverage with a $27 price target. I am targeting that same level as a profit taking spot for this trade. This is a something where I am going into it as a trade, but I could see it turning into an investment for me. EVs are the future, but there is far too much froth in the market and not all these EVs will make it.

Comment:

Nice pullback last week, but still above the original $16.75 resistance. Still looking for $27 on this. Every high flying growth name last week got cut down from interest rates rising.

Comment:

$27 PT ACHIEVED

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