Fastly, Inc.Long
Bullish FSLY to $98 then $107.50, stretch goal $124
Updated
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).
- 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).
Trade active
Hit first price target, today's dragonfly doji (Aug 31) looks bullish to me still. Buying volume and MACD still looking good.Note
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.
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