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Fastly Inc (FSLY) “On a long-term technical basis, the stock (FSLY) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has broken down through an important fibonacci fan trendline at 76.99 suggesting the next level of support is 75.22. The long-term uptrend has now turned neutral.
The stock has support at 75.22 and 71.39. If the stock breaks down through support at 75.22 then it will probably continue lower to 71.39. The stock will meet resistance at 76.99 and 91.23. If the stock breaks up through resistance at 76.99 then it will probably continue higher to 91.23. The 200-day moving average is at 54.47. This will also act as support. If the stock closes below 61.33 a negative trend change is probable. The stock could fall to the 200-day moving average at 54.47. The stock is extremely oversold according to the Stochastic Indicator (11.78).”
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