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Fastly Overrated

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

I like patterns, but they certainly are not infallible. Earlier this week, the relatively new stock Fastly (symbol FSLY) was sporting a fantastic-looking pattern, including a new lifetime high. It’s just the kind of stock you would want to own. Supposedly.

Liquidity moves markets!

Follow the money. Find the profits! 

Fast forward to earnings. Let’s just say the pattern was blown to pieces.

Does this mean patterns are useless? Certainly not. Does it show how it’s important not to risk too much in a single stock? Yes indeed. Is this the end of my rhetorical questions? Absolutely.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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