FSLY Pump before earnings?I plotted this for my own edification, so I figured I might as well share it.
FSLY is forming a very distinct falling wedgie, looks like it should break out sometime between now and end of the month (EOM), my calculated breakout point oddly coincides with the next Fed meeting.
Take it for what you will. I'm just trying to figure out downside targets for various garbage stocks I've been shorting lately. I plan on flipping my puts tomorrow morning regardless. Not much downside left on this one.
F1SL34 trade ideas
Fastly speeds through supportFastly - Short Term - We look to Sell at 33.50 (stop at 37.10)
Previous support, now becomes resistance at 34.00. There is no indication that the selloff is coming to an end. 20 1day EMA is at 36.50. The bias is still for lower levels and we look for any gains to be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 33.50, resulting in improved risk/reward.
Our profit targets will be 23.40 and 20.10
Resistance: 34.00 / 44.00 / 50.00
Support: 30.00 / 25.00 / 20.00
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FSLY ER beat. What's next?FSLY moved strong AH on ER beat but at open it did not hold gains. Mostly because they did not improve much financially since last ER and outlook had been lowered. But, I do think FSLY is very strong at these levels and patience will pay off here. FSLY had again filled its gap from May and got rejected, retesting 20 day MA. If it can hold 20 day MA, I don't see why it cant run even higher. It is in between two massive volume shelfs and some strong price action the next week could see it rally back to 80-90 range which there is a gap yet to be filled.
Fsly Earnings play Fsly still in a downtrend Just reported earnings and was unable to break previous resistance and $64.00. The Zone of resistance I have market is between $64.00 and $78.00, which bulls needs strong momentum to push through. Keep an eye for the break of $78.000 it has to to run to $100.00 from there.
NYSE:FSLY
$FSLY | WEEKLY WATCHLIST 11/1Another prime example of AMAZING chart setup, terrible timing. Fastly reports earnings on November 3rd, therefore I will be waiting until after to consider a position. Textbook wedge breakout, with the retest holding into a bull flag which is looking to confirm. If we can hold above $52, targets above include $55, $58 and $64.
Go to RestThe stock was going up very well. It needs to take a little break and unload on the indicators. So it's a short position for now. Then we will be able to gain a position again with higher targets. We trade a rebound from the level.
Watch closely, there could be pullbacks. You can exit the trade with a stop loss if it goes above the 61
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FSLY - D :: Forget about the TikTok dramaThe bears argue that Fastly is suffering the loss of its largest customer, as regulatory restrictions still cloud the company's relationship with Chinese-owned social media giant TikTok. That's unfortunate but hardly the end of the world. At the start of the coronavirus pandemic, TikTok's content delivery orders accounted for more than 10% of Fastly's quarterly revenue. Yes, that's a large customer, but Fastly doesn't live and die by that contract alone. The company can now redirect the networking assets that used to be earmarked for TikTok's use into other customer relationships.
So Fastly deserved a slap on the wrist when government orders separated the company from TikTok. Instead, Fastly shares got a massive haircut.
The business is still in great shape, just so you know. Sales rose 14% year over year in August's second-quarter report. Fastly's customer count rose from 2,458 to 2,581. The net retention rate across the last four quarters was 135%, which means that the average contract renewal was signed at a 35% higher top-line value than the deal it replaced.
Fastly is doing just fine and should get back on its feet in a hurry as investors start to forget about the fading TikTok drama. In the meantime, you can pick up Fastly stock on the cheap.
$FSLY Should be on your list this week Fastly (weekly) so far has recaptured 21EMA and right at the volume shelf resistance coming off a triple bottom.
If it breaks higher, good volume pocket above ... Plus keep in mind only 116M shares outstanding so good squeeze potential for a mid cap.
Just look at the run back in June... not saying that will happen again, but with a good ER and the setup, I think this COULD see $68 quick and should be on your watchlist.