This one I'm mainly posting for myself to keep a record in the space time continuum of a trade I've already made. Basically, a challenge for myself...
I see lots of chatter about the astronomic rise in FCEL over the past couple months as "overbought".
Those that have been following my work will know that I am currently mostly a bear, but I decided to be contrarian on this single stock and put in a bet for continued gravity defying upside movement.
My decision is primarily based on the chart pattern which looks to be breaking up with incredible strength. Yes, the daily degree looks overbought. Yet... FCEL is moving at lightning speed and has already retraced to the 0.5 fibonacci since the recent peak... and the weekly RSI still has tons of room to run. As earnings is approaching, I am basically betting that something huge will be announced that will begin this stock's rise to the moon, not only over the next several weeks, but for the years to come...
Wish me good luck! As this is extremely speculative, I recommend following only with small play money.
I see lots of chatter about the astronomic rise in FCEL over the past couple months as "overbought".
Those that have been following my work will know that I am currently mostly a bear, but I decided to be contrarian on this single stock and put in a bet for continued gravity defying upside movement.
My decision is primarily based on the chart pattern which looks to be breaking up with incredible strength. Yes, the daily degree looks overbought. Yet... FCEL is moving at lightning speed and has already retraced to the 0.5 fibonacci since the recent peak... and the weekly RSI still has tons of room to run. As earnings is approaching, I am basically betting that something huge will be announced that will begin this stock's rise to the moon, not only over the next several weeks, but for the years to come...
Wish me good luck! As this is extremely speculative, I recommend following only with small play money.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.