FCEL: A new Key Point that we all must be aware of!
Hello traders and investors! Let’s talk about FCEL again! It has been a while since my last analysis about it, so, let’s see how it behaved since then. The link to my last analysis is at the end of this analysis, as usual.
I wrote my first analysis about FCEL when it dropped about 20%, after some news about a public offering, and some people were extremely concerned about it, but since I’m a Price Action trader, and the only thing that interests me is a good Risk/Reward ratio, I thought it was a good idea to invest at FCEL, regardless of how pessimist the sentiment was.
The stock went up from $ 7 to the $ 30, and now, it is at $ 13 again. The thing is, it did a Head and Shoulders chart pattern in the daily chart, but it already hit its target, which is this black line at $ 10.98.
The black line is the most important Key Point to keep in mind in the short/mid-term, and it must not lose it, as it could engage in a real bear trend and seek for lower levels, maybe the $ 6 again.
Let’s see the weekly chart for more clues:
See how crucial is the area where FCEL is right now? It is sitting above the black line, which worked as support and resistance in the past, and it is above the 21 ema, which is another support level in the weekly chart.
If FCEL is about to react, it’ll be soon, but as long as we don’t have any good signs around, I’m not entirely convinced that it’ll keep pushing up. What we need is a good pattern, and an increase in the volume to resume the bull trend. In my view the moment to buy FCEL has passed, and now it is time to manage positions, and watch the key points mentioned. But we might see something interesting around.
Let’s monitor FCEL closely from now on, as it is in a decisive moment! And if you liked this analysis, remember to follow me to keep updated, and please, support this idea with your like!
Thank you very much!
I wrote my first analysis about FCEL when it dropped about 20%, after some news about a public offering, and some people were extremely concerned about it, but since I’m a Price Action trader, and the only thing that interests me is a good Risk/Reward ratio, I thought it was a good idea to invest at FCEL, regardless of how pessimist the sentiment was.
The stock went up from $ 7 to the $ 30, and now, it is at $ 13 again. The thing is, it did a Head and Shoulders chart pattern in the daily chart, but it already hit its target, which is this black line at $ 10.98.
The black line is the most important Key Point to keep in mind in the short/mid-term, and it must not lose it, as it could engage in a real bear trend and seek for lower levels, maybe the $ 6 again.
Let’s see the weekly chart for more clues:
See how crucial is the area where FCEL is right now? It is sitting above the black line, which worked as support and resistance in the past, and it is above the 21 ema, which is another support level in the weekly chart.
If FCEL is about to react, it’ll be soon, but as long as we don’t have any good signs around, I’m not entirely convinced that it’ll keep pushing up. What we need is a good pattern, and an increase in the volume to resume the bull trend. In my view the moment to buy FCEL has passed, and now it is time to manage positions, and watch the key points mentioned. But we might see something interesting around.
Let’s monitor FCEL closely from now on, as it is in a decisive moment! And if you liked this analysis, remember to follow me to keep updated, and please, support this idea with your like!
Thank you very much!
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