Fastly - 4h Chart

Technical analysis of Fastly on 4h chart.

After about 2 months of bullish movement after the crash, price touched the golden Fibonacci retracement of 0,618 at 107,93$ and started to pullback initiating a correction for 7 days. If we look closer during the last 4 days it has moved within a falling wedge pattern which is a sign that price is moving closer to a major resistance area market by the yellow line in the chart which shows a clear structural resistance area during the past months.

Also looking at the chart we can identify a Cup and Handle Pattern which is a bullish pattern . We can also identify bullish divergence on both MACD histogram and Stochastics. We believe that this is the end of the correction and price will continue its bullish movement upwards to fill the gap and beyond.


Legal Disclosure: I’m not a financial advisor. The information contained here is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock analysis provided here should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!


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