The decline bounces, but volume doesn't confirm
Fastly climbs 8.1% for a second week, but money flow stays negative
The decline bounces, but volume doesn't confirm
Our view last week
Fastly is in the 12th week of its sell signal, and the week just closed recovered 6.0% with a double bottom in the 16 area and a 40% intermediate rebound. The technical picture over recent weeks shows a decline that holds direction but is losing steam: the price sits between the first resistance, the daily pivot point average in the 18.2 area, and the first support, the 20-day average in the 18 area.
This week's summary
Fastly shares have just strung together a second straight week of gains — 8.1% after the prior 6% — pushing the price back to the edge of the Inversion Point. But weekly money flow stays negative and actually got worse, while volume is contracting: the bounce isn't confirmed by the tape yet. The sell signal has been under management for 13 weeks, with the short above 20% in profit.
IQS Phase
58
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#109 / 137
US stocks
Trade P&L %
+20.24%
from signal to today
restricted Platinum content