FSR rounded bottom reversal pattern
Updated
FSR on the one hour chart completed a trend down from Wed June 23 to Tues June 27 and
appears to have reversed. FSR has gained about 12% in 3 days on the bounce.
The following are signs of bullish momentum:
1. Price is supported by an ascending linear regression line with a period of 50
2. The MACD lines crossed over the horizontal zero line on Tuesday, June 27th. This is a
zero lag setup.
3. The RSI strength crossed over 50 the following day.
4. Price crossed over the volume profile's POC line on Wednesday, June 28 showing gaining
bullish momentum
5. Price crossed over the mean VWAP anchored to the beginning of the prior downtrend on
June 29th another confirmation of bullish momentum.
Overall, FSR appears to be well setup for a swing long trade which I will take.
appears to have reversed. FSR has gained about 12% in 3 days on the bounce.
The following are signs of bullish momentum:
1. Price is supported by an ascending linear regression line with a period of 50
2. The MACD lines crossed over the horizontal zero line on Tuesday, June 27th. This is a
zero lag setup.
3. The RSI strength crossed over 50 the following day.
4. Price crossed over the volume profile's POC line on Wednesday, June 28 showing gaining
bullish momentum
5. Price crossed over the mean VWAP anchored to the beginning of the prior downtrend on
June 29th another confirmation of bullish momentum.
Overall, FSR appears to be well setup for a swing long trade which I will take.
Trade active
FSR trade-off to a good start on a Friday when typically profit-taking suppresses upward price movement. Trade management- stop loss raised to above break even- Trade is now risk-free and so will be profitable.Trade active
FSR has run 11% since the idea uploaded a decent return in one week= call optionsare up 88% for one week. Expect more running full position of shares and calls into
next week EV sector strength right now with RIVN TSLA NIO XPEV NKLA GEOV ARVL
all in the mix. RIDE stopped running with traders of RIDE moving onto others.
Trade active
FSR is up 25% since the idea was uploaded. Options 228 % this is a major rally. I will now take off half of the stock and options positions while on the watch for overextended and overbought signs of topping including bearish divergence on the MACD or RSI.Trade active
Took some profits @ 7.08 and watching the pullback to add to the position.
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