Technically, Farfetch is really not looking good. It has been stuck in a step-down channel, with not much downside support. I think it will really need some good news to push it above the MAs, which have provided resistance over the past couple months.
Really stuck in this one, but I like the long term prospects, so for all longs, I would look to buy a bunch of shares if this trades down to 39$.
Anyone seeing this differently? I guess it could be interpreted as a prolonged bull flag after that huge run up, but it seems unlikely now a couple months in. Or it could be a big ABC corrective wave? Who knows.
Good luck to all! (*This is not financial advice, for sake of discussion and illustrative purposes only*)
I like this stock (and product). They've recently turned profitable. That said, I'm a bit worried about what could be seen as a H&S on the weekly. I'm keeping an eye on these 2 scenarios myself
InvestEmi
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@darkmode, You've got support all the way down at 34$ ish, that's rough. But then again, this sell-off has been volume-heavy, so could be a serious one.