The Charts Say: Not So Fastly
FSLY is still following the script, and here's what the script says.
Stocks quotes in this article:
FSLY
We last reviewed the charts and indicators of Fastly Inc. (FSLY) on Feb. 16 and concluded that "I have no special knowledge of the upcoming earnings for FSLY, but the charts are positioned for weakness at this point in time. Avoid the long side."
Prices declined from around $93 to $60 recently. Is the decline over, with prices jumping 10% today? Let's check the charts again.
In this updated daily Japanese candlestick chart of FSLY, below, we can see how prices sank after their earnings report last month. Prices fell below the 50-day moving average line, which now has a negative slope and prices gapped below the cresting 200-day moving average line. Prices have a long way to go to close back above the 200-day line, which intersects around $85 now.