FNKO trade ideas
On the Watchlist: FNKO and HLFNKO entry was at $6 and $HL was at $5.28. Target: 15 to 20%+. FNKO currently has had alot of resistance and is on alert for likely to pickup support. HL recently dipped along with the rest of the market. I am bullish on both with some mid to high risk diversification. That being said, do your own diligence and invest at your own risk. Please consider everything I say as on an opinion based basis.
FNKO AnalysisFNKO has been in a free fall for the past few weeks due to analysis downgrade and weak Q4 guidance. However, I've illustrated a few different ways this chart can start to develop if a bounce is to happen, which I see, as the companies fundamentals are still in tact.
COA 1: FNKO starts to develop a symmetrical triangle pattern of higher lows and lower highs in which we'll see a bounce soon in the $13 area.
COA 2: FNKO is developing a large range and heading down to the $10-$12 area before finding support.
COA 3 (not likely): If we break support at the $9 area and trade below then FNKO has more downside potential.
**Please trade at your own risk**
Upgrades and insider buying bode well for FunkoFunko had a substantial insider purchase on September 5, hired a new board member, and has had a lot of analyst upgrades recently. It now has a 9.1/10 Equity StarMine Summary Score. It's also rated highly undervalued by S&P Capital IQ. With several recent earnings beats, all indicators are good for this stock. Watch for a breakout above the ascending triangle.