$FSLY ( DAILY) - Cup Breakout$FSLY ( DAILY)
Cup breakout as seen on 5th Aug 2020 till 7th Oct 2020
Awaiting 100 day horizontal channel breakout
Possibility of double top which occurred on 7th Oct 2020
RSI > 70
9 day EMA > 21 day EMA > 50 day MA
Volume > Avg Volume however red candle
Buy above high of 100 day horizontal channel (121.35)
Target height of cup for $46 dollar move
F1SL34 trade ideas
Shorting Fastly- Rejection at the right shoulder spells troubleThe consolidation has been ongoing and the bearish engulfing candle at the right shoulder is showing the 2nd rejection. As such, we think that the price will target 123.6% of the head and shoulder minimally which if it rebounded strongly, it means the Head and shoulder will have a failed break below.