Swing Trade Idea -(FSLY) – August 19, 2020
Our bullish trade for Wednesday, August 19th is Fastly Inc (FSLY). FSLY is part of the Technology Sector (XLK). XLK has experienced a 5.03% gain in the last month and its 1M trend turned bullish on July 29th.
FSLY’s 1M trend turned bearish on August 7th as price pulled back to an area of support. With a technical score of 10 (out of 10), FSLY is a very strong stock that will likely move higher.
As a stop loss, if FSLY were to trade below $72 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $16.10.
