Fastly Fills the GapWeb-acceleration company Fastly hit a record low over the summer, but now there could be signs of a rebound.
The first pattern on today’s chart is the bearish price gap in May after the release of weak guidance. FSLY is now pushing into that gap, which could make some traders see potential for more upside.
Second are the lower lows and lower highs through August, followed by higher lows. That rounded bottom could suggest prices are done falling.
Third, MACD and the 50-day simple moving average are both rising. Is the direction turning more positive?
Finally, you have the bullish price gap on December 2 on an upgrade by Oppenheimer. (The analyst said FSLY may benefit from the recent bankruptcy of rival Edgio.) The surge pushed the stock above its May 14 high, the resistance level at the bottom of the May gap.
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