Fastly Fills the Gap
Web-acceleration company Fastly hit a record low over the summer, but now there could be signs of a rebound.
The first pattern on today’s chart is the bearish price gap in May after the release of weak guidance. FSLY is now pushing into that gap, which could make some traders see potential for more upside.
Second are the lower lows and lower highs through August, followed by higher lows. That rounded bottom could suggest prices are done falling.
Third, MACD and the 50-day simple moving average are both rising. Is the direction turning more positive?
Finally, you have the bullish price gap on December 2 on an upgrade by Oppenheimer. (The analyst said FSLY may benefit from the recent bankruptcy of rival Edgio.) The surge pushed the stock above its May 14 high, the resistance level at the bottom of the May gap.
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The first pattern on today’s chart is the bearish price gap in May after the release of weak guidance. FSLY is now pushing into that gap, which could make some traders see potential for more upside.
Second are the lower lows and lower highs through August, followed by higher lows. That rounded bottom could suggest prices are done falling.
Third, MACD and the 50-day simple moving average are both rising. Is the direction turning more positive?
Finally, you have the bullish price gap on December 2 on an upgrade by Oppenheimer. (The analyst said FSLY may benefit from the recent bankruptcy of rival Edgio.) The surge pushed the stock above its May 14 high, the resistance level at the bottom of the May gap.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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