$FNSR Bear Flag - Short$FNSR Bear Flag - Short
Target: $18.90 Nov gap fill by mid February
Note: Informational analysis, not investment advice.
FNSR
Alternate Telecom Play (Materials) w/ Cyclical Trade HistoryTelecom build out in 2nd half or 2018 has been confirmed by multiple companies to be primed and heavy. First report of year is seasonally week and reflected across sector. AXT is traditionally conservative with forward looking statements, so beats are regular and plausible. New factory is almost completed and 3D Sensing capability has already been confirmed for further exploration. Technical trade up to $9 PT coincides with resistance line after price has managed to sustain within fib levels during recent periods of volatility.
FNSR - Double top breakdown short from $26.38 to $20.13FNSR seems breaking down from a double top. We can see nice Adam & Eve top formation. As it breaks the support label it can decline all the way down to $20 area.
* Trade Criteria *
Date first found- March 13, 2017
Pattern/Why- Double top short
Entry Target Criteria- Break of $26.38
Exit Target Criteria- $20.13
Stop Loss Criteria- $28.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
