FSR follows TSLA / NIO in uptrend
Updated
For the month of May on the 15-minute chart Fisker is up 27% while the general market QQQ
is up merely 4%. FSR riding an ascending parallel channel tested the channel yesterday. This
was met with high relative buying volume. (Fundamentally, TSLA and NIO are rising as well
as EV stocks gain some momentum ) The Better RSI indicator is oscillating between oversold
and overbought providing reasonable entries. The volume profile shows the highest volume
support from $ 61.0 to 6.65. The uptrend started at 5.10 and the POC line which is the likely
Fib 0.5 level on a future retracement combined in context suggest a target of 7.10 for the
current uptrend. I find this to be suitable for a long trade setup also factoring in a stop loss
at 6.55 just below the parallel channel.
is up merely 4%. FSR riding an ascending parallel channel tested the channel yesterday. This
was met with high relative buying volume. (Fundamentally, TSLA and NIO are rising as well
as EV stocks gain some momentum ) The Better RSI indicator is oscillating between oversold
and overbought providing reasonable entries. The volume profile shows the highest volume
support from $ 61.0 to 6.65. The uptrend started at 5.10 and the POC line which is the likely
Fib 0.5 level on a future retracement combined in context suggest a target of 7.10 for the
current uptrend. I find this to be suitable for a long trade setup also factoring in a stop loss
at 6.55 just below the parallel channel.
Trade active
FSR recovering from a pullback which was an opportunity to add to the position.
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