Fallen Angel. No insiders. Possible long above 5.93, Stop signal 5.43. Momentum long setup. Target 1 7.87. Target 2 Momentum.
Looking good, expecting a good bounce soon.
FNKO has been in a free fall for the past few weeks due to analysis downgrade and weak Q4 guidance. However, I've illustrated a few different ways this chart can start to develop if a bounce is to happen, which I see, as the companies fundamentals are still in tact. COA 1: FNKO starts to develop a symmetrical triangle pattern of higher lows and lower highs in...
Looks like 200 SMA crossing 50 SMA
Hey Funko strong bounce from the 200MA Overall trend is still upwards, with the daily hammer, my thesis is it will climb back up inside the channel. We can wait for pullback with the low of the hammer, below 200MA for the stop. Or just manage your R/R.
Funko had a substantial insider purchase on September 5, hired a new board member, and has had a lot of analyst upgrades recently. It now has a 9.1/10 Equity StarMine Summary Score. It's also rated highly undervalued by S&P Capital IQ. With several recent earnings beats, all indicators are good for this stock. Watch for a breakout above the ascending triangle.
Looks like a trend to me (hint....look at support and resistance).
I am by no means a financial advisor I have simple words on my charts explaining what I think the market is telling me based off what it shows me.
Funko just broke out above a critical resistance level. Not a lot of resistance from here up to 2018 highs of $31 per share. It's got pretty good analyst ratings, growing earnings, and a history of earnings beats. It next reports in early August, so plenty of time to run.
The stock breaks out the price range after decreasing volatility. I bought 40% of position at 24.92 in June, 20. And I would put the rest of position depending on the market move.
Potential Inverted Head & Shoulders could play out a bullish move for FKNO and push price levels to the $23 - $24 range.
Still long Oct19 22 1/2 calls :-) Will watch closely but expecting to continue trending!
I chased, went long @ 21.66. Also Oct 22 1/2 calls. Will buy more on the dip which I'm sure will occur after it cools down. Revisit around noon