FSR double bottom and trendline retest

2021年8月4日

AT first glance it looked like there might be more downside, but after a second glanced FSR is retesting a major trendline. You can see where we touched 14.48 again this morning hitting the trendline and making a possible double bottom. I would expect at least a small bounce off this trendline tomorrow. From the ATH of 31.96 to the most recent low of 9.26 we saw a perfect return to mean retracement at 20.61. Connected the high on 11/27 last year to the recent high of 20.61, it looks like we are in an upward channel and completing a pennant pattern at the same time. The bottom trendline was broken in a big way on the last low however that could be interpreted as greed and a bullish signal as institution looked to enter near IPO prices and shortly after raised priced targets. It will be interesting to see where we go after earnings. Even if we dip below the bottom trendline its hard market cap should increase as FSR approaches production. One note of caution - be careful betting on the auto show, it could get canceled bc of Covid

2021年8月4日

註釋

Slightly more zoomed in -