[$FSLY] Looking a little over extended

23 Jun 2020

FSLY has been on a tear since their early May earnings report breaking their ATHs just about every day. I am bullish long term, but, it looks like we could be nearing the end of wave 3 or beginning of wave 4 of an impulse wave up.

It found some decent resistance around the 81.50 area to close just above its low for the day. If it breaks lower, I expect it to at least fill the gap left between the 73.5 - 74.75 area. A break below that should test the red trend line, and finally, work its way down to the yellow trend line where it should find some firm support at the end of the 4th wave.

RSI on 1H through 1D and especially on the 1D, it looks like it could make a shift downward at any time and Volume showing the most consistent selling activity than any point since Memorial day.

Place your bets and good luck!!

***THIS IS NOT TRADING ADVICE, these are just my own personal opinions based on own technical analysis. Do your own due diligence and be aware of the risks involved with trading***