Fastly
Short Term
We look to Buy at 13.46 (stop at 11.36)
Preferred trade is to buy on dips. Posted a Double Bottom formation. 20 1day EMA is at 12.42. There is scope for mild selling at the open but losses should be limited.
Our profit targets will be 19.97 and 27.19
Resistance: 20.00 / 44.00 / 50.00
Support: 13.50 / 10.00 / 5.00
Disclaimer – Saxo...
Beautiful B pullback to the .764 Fib, possible it drops to $35 but this is the area you want to get in. Big trendline and FIB support, you could scale in, buy low sell high! The crowd hates it now, that's a good thing.
Double bottom + Support + Double top + Classic bullish divergence on the RSI. A reversal it's probably starting! On top of that, it is very easy to manage your risk.
FSLY forming a bullish shark pattern. Negative ER was the massive gap down. While most other stocks are dipping with the overall market dip, FSLY has only slightly depreciated in value. It remains quite strong and is even right above the 886 (PCZ of Bullish Shark). I have been watching this stock trying to get the literal perfect entry at the 886 but its not gonna...
Bullish set up on Fastly
We have a huge gap to fill and a megaphone pattern.
Let's see if we can go fill that gap and move towards the top of the megaphone.
Here is an easy ta for FSLY long:
Fastly made two highs in 2020, gapped down from the top at 132 to support 64 (+ trendline support) and is now consolidate.
I think this stock is for shortterm trade and longterm investment attractively as well:
You can use both entrys around trendline support (50er fibo) and bottom support (61 fibo).
RSI is currently trend...
Monthly
Young company 2019 year
Uptrend
Weekly
Uptrend
Daily
Stock gaining power but too reliable on Tik Tok usage ( key customer of Fastly)
Therefore this stock is risky.
If you have risky strategy for short and middle term , you could consider LONG for Fastly.
Open LONG from 106 where a lot of sellers placed orders to 130 only after 100 is retested on...
$101 is a strong resistance for FSLY right now, FSLY today has crossed 100 and closed above it, it remains to see if 100 becomes the new support. If it bounces off 100, it will reach at least 115.
All this tiktok nonsense does not take away from the fact that FSLY is a solid company with AMAZING customers: SHOP , SPOT, ETC.
Head and shoulders turned into -> Descending Triangle. Money Movers won't let this fall below 75.
We will see new highs in the coming years if FSLY can keep innovating in the CDN space and cybersecurity.
Typical software things in times of crisis.
Shopify goes up, fastly goes up. Walmart deal extra boost.
Aiming for 1.618 fib then watching for dip or consolidation.
FSLY is a buy on dip.
