FSLY trade ideas
FSLY PT $45-$50I mean.... come on. this is obvious. stupidly overvalued. its still following HS rules. just need that neckline break. WEEEEeeeeeeeee
Short Candidate - Fastly, FSLYselling at over 20x SALES, no earnings, bubbled up 11x from mid March to August; perfect head and shoulders top
FSLY H&S showing on the daily chartLet's see how this plays out..looks like if the market trends down next week FSLY will not be in a good defensive position.
FSLY Head Shoulders FSLY has now developed a complete head and shoulders pattern, looking to break the 72 support. This can run down to the 61.8 Fib retracement at the 60 range.
$FSLY - SHORT - Head and Shoulders$FSLY is in a position trying to purchase tik tock. Trump has given a deadline of November 12th. This is a deadline for after the elections to avoid any major fall out that could influence the elections.
Right now the stock has formed a Head and Shoulders pattern but doesn't have a huge sell off. It is still in an upper channel that can take this stock to $150.00 before you see a reversal. Probably not a good trade.
We could see news come up within the next few days suggesting the deal can't go through because of China not allowing the licensing of the software to go through... blah blah blah. This would be a great catalyst to a selloff.
*INSIDER SELLING* - Director sells -%50 of his shares 16.692 million dollars worth September 1st. Why sell now if it can still continue to $150? or is he just reducing risk by half?
This is not confirmation that H&S pattern has confirmed until we break below the $72.55 with volume. However I am in a partial position hoping for a reversal using a tighter stop loss than below. Will look for next short at $150.00 if this pattern doesn't form.
Entered trade $91.01
Stop Loss $103.10 / tighter stop loss $99.89
Will add to short position with more confirmation with a break of the trend line in next two days (approx $85.00)
Take partial profits at:
Target #1 - $72.00 or 100 day MA (sell 1/2 position)
Target #2 - $50.00 (sell 1/2 position)
Target #3 - $29.00 (close position)
Fastly : Wyckoff Pattern springLooks like Fastly is at spring on Wyckoff Patterns.
Likely catalyst to push it over the last point of support could be any news from Tik Tok acquisition or a short squeeze
Link : school.stockcharts.com
Concerns,
- Head and shoulders
- High volume on red days compared to green
I'm long Fastly.
FSLY: 2 month long Head & Shoulders amidst TIKTOK concernsTechnicals:
Potential 2 month long head and shoulders spotted.
MACD and RSI signals a continual bear trend(despite short term reversals)
Fundamentals:
FSLY forming a 2 month long head & shoulders amidst TIKTOK concerns and prolonged negotiations on TIKTOK acquisitions. TIKTOK is currently FSLY's largest customer: delayed acquisitions and potential ban will put FSLY in a vulnerable state.
Wait for break below neckline for confirmation.
FSLY Keeping calm in this kind of sell off is not easy. If you look at big picture we panic less. FSLY held cloud bottom on daily so far, at this time it’s anyone guess when we will find bottom. That said 65 and 50 are kind of lower level if 70 is broken
Classic head and shouldersThis is really classic, if it close below the neck line, it is going to sink fast!
FSLY Head and Shoulder In processFastly is in process of building head and shoulder on the daily chart. In my opinion, 8 B evaluation is too high. When one of the industry leader NET is at 11 B.
Nothing is certain until the pattern plays out. So wait for the breakout and target is $50-52
Fastly: Mind the Gap in High-Flying Tech StockFastly had one of the sharpest rallies in big tech stocks, ripping about 400 percent between early May and early August. But the price action has turned bearish in the last month.
FSLY posted strong quarterly results on August 5, but investors “sold the news.” Management added fuel to the fire by revealing a large dependence on TikTok, the Chinese social-media company that’s become a hot potato between Washington and Beijing.
The drop produced a bearish gap that FSLY tested last week but wasn’t able to fill. The resulting lower high is within 3 percent of an earlier peak on July 9. That creates a potential bearish head and shoulders pattern.
Finally, FSLY’s lower high last month contrasts with the broader Nasdaq-100 and Technology sector, which both made new highs yesterday. (Lack of relative strength.) All those patterns suggest the tide may be turning against FSLY.
$FSLY Daily H&S $SPY $SPX $AAPL $NET -- the $FSLY daily chart looks like it may be showing signs of reversal with this pretty clear h&s + TRIX bear cross nearing -- might be a good short entry very soon :D
FLSYStill in consolidation mode moving side ways and trading within the range. So far touched 87 level (top of the box) and quickly moved up. Need to close above 95.17 (.5 fib brown) to find some momentum and 100.5 is .618. After that 102.95
Bullish FSLY to $98 then $107.50, stretch goal $124I'm seeing lots of bullish signals on the daily chart:
- ton of previous support around $80
- 50 EMA came up to ride that $80 support for several days
- MACD trending upward, MACD line may cross signal line upward in a few days?
- Thu/Fri formed a bullflag, price target around $98
- earnings gap that could be filled, price target $107.50
- pattern of higher highs, price target $124
If the bullflag doesn't fire we should still see that support around $80. I would be bullish unless we get a daily open below $75 and that same daily candle closes below $75 (even if it pops up intraday).
$FSLY Holding on supportWill monitor the situation but it seems its holding well on support around 76-77$.
Bought shares on the pullback on previous levels and looking to add more if this support holds..
I am still bullish on the stock, because IMO Tiktok will have only moderate impact on $FSLY revenues in the long term. However, I do realized the short term pressure and unfortunately there is too much attention on this due to TikTok.
If it hold will try to add at any pullback!
BUY FSLYHello traders... i am going to write some BS and if you are dumb enough to listen you might very well get rich. Anyways - Buy Fastly because stocks only go up and all the answers lie within the chart, and the chart is saying that Fastly will go very high and make us all a lot of money.
