Heineken-Ashi said:
If FSLY is going to go up, it's got a date with $30. The threat here and what separates it from POWL and PLTR is that it's heading into earnings overbought with indicators running hot. Even the weekly. PLTR and POWL had reset indicators prior to earnings. Not saying it won't pop. It just makes me more cautious.
I concur and this is the one that I was talking about yesterday or the day before as a possible ER play for next week and being in no man's land technically. I'm still cautious, but I've decided that I'm going to play it and this is why.
- They were looking like a possible breakout candidate even before NET reported earnings AH
- Their products are superior compared to their competition. IMO
- They've demonstrated earnings growth qtr to qtr for over a year and might even post a profit this qtr.
- After basing for so long, there's not much resistance and if it breaks out through $30 with momentum, then it has the potential to get near $40 pretty quickly.
That said, I'd avoid options on it if at all possible. I will be buying the stock in all accounts but not near in the size I bought POWL and PLTR. I want exposure to it should I be right, but I don't want to get overconfident and piss away the profits I've accumulated because I got cocky.
I will post when I buy but it'll be before next Wednesday. It'll probably be tomorrow but not the open because I suspect it's going to open higher due to NET. I think it will get momentum going into Wednesday and ramp up in anticipation of their report, I plan to ride that wave.
As always, you're all professionals so make your own decision after doing your own DD and your risk threshold.