FSLY - Next stop

Potentially setting up for a reversal here

Update to this observation:

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FSLY proved how significant the trend line is today. I'm not giving it much room to go against me. May need to get flushed down before turning higher.

Trade closed: target reached

Great move today in FSLY and exactly what it needed. I will be adding at 83/84

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I view this as the most probable outcome for FSLY at the moment. I DO NOT see a head and shoulders forming. I do think 106 will be resistant and may appear to be a shoulder, in what I think is a bullish broadening wedge above the 50 day moving average and its major trend line.

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retrace and bounce

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We the strong follow through I was looking for:

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Possible false H&S developing. Fake head and shoulders patterns are a pattern in itself, and often even more powerful. I already took profit on FSLY but I am keeping an eye to get back long. Here is what we could see if the H&S fails:\

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Looks like we have confirmation as of yesterday of the failed H&S I was looking for with a break above the the key 86/87 spot:

Lanmar

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Lanmar