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- NYSE: FSLY stock had got double upgrade by the NYSE: BAC Analyst Tal Liani
- Fastly Inc. stock price holds the 50-day EMA and attempts to break out of the 200-day EMA
- FSLY Q4 earning estimates remain negative at $0.127 and revenue at $114.63M
Fastly Inc (NYSE: FSLY) stock price shot up 27% in Monday’s session after a prominent Bank of America(NYSE: BAC) Analyst Tal Liani turned bullish on the future outlook of the company and upgraded the rating to ‘Buy’ ahead of its Q4 earnings.
Will FSLY stock price see follow up movement ?
Fastly Inc(NYSE: FSLY) stock price has shown a surprising rally of 27% on an intraday basis and formed a giant bullish candle which has grabbed the attention of the investors. In the beginning of January, FSLY stock price took a U-turn from its 52-week low. Meanwhile, the bulls managed to reclaim the 50-day EMA which further gained positive momentum and prices kept on rising upward by forming higher-high candles.
FSLY price stopped near the swing high hurdle level at $11.00 and was about to reverse downward. However, a prominent Wall Street analyst’s positive rating of the stock triggered the wild short covering and prices return back to the bullish track.Presently, the prices are near to the 200 day EMA which will be acting as an immediate hurdle for the bulls and if buyers succeed to hold the prices above the $14.00 then we may see a more upward movement in the coming weeks.On the other hand, $10.00 will be act as demand zone for the bulls and if prices slipped below $10.00 then the recent up-move will result as a bull trap.
The technical indicators of FSLY stock have turned bullish. The price action is showing signs of more upward momentum which shows that buyer-confidence is returning. The MACD has generated a positive crossover indicating the bullish momentum to continue for coming days. The RSI curve at 66 sloping North also indicates an upcoming bullish trend. However, FSLY Q4 is scheduled in the current week and if the company fails to meet street estimates, it might negatively impact price in the short term.
Summary
Fastly Inc(NYSE: FSLY) stock prices reacted positively when a prominent Wall Street analyst upgraded the rating for the future outlook.The technical analysis shows that the prices are in the initial phase of a bullish trend-reversal. If the bulls reclaim the 200-day EMA, then more upward movement is possible. However, if the price dropps below $10.00, then it might be a matter of concern for the long term investors.
Technical levels
Resistance levels : $14.41 and $20.05
Support levels : $10.00 and $8.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
