FEYE Daily & Hourly long setup.
Daily Chart
Price has returned to a gap over a resistance that hopefully will serve as support. FEYE is also in a Fib zone, with both Stoch and Osc oversold. Could be making a flag pattern.
Hourly Chart
Hour chart shows clearly that the flag pattern is an orderly move down in a down channel. And could be making a double bottom, with the Osc showing divergence.
I will be going long once price breaks above the regression trendline on the hourly chart. Will scale out some at around $40-$42 with major price target around $45.
Price has returned to a gap over a resistance that hopefully will serve as support. FEYE is also in a Fib zone, with both Stoch and Osc oversold. Could be making a flag pattern.
Hourly Chart
Hour chart shows clearly that the flag pattern is an orderly move down in a down channel. And could be making a double bottom, with the Osc showing divergence.
I will be going long once price breaks above the regression trendline on the hourly chart. Will scale out some at around $40-$42 with major price target around $45.
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