Perhaps Time To Load Up On Fastly
Based on the current Elliott Wave analysis on Fastly (NYSE:FSLY), I are seeing an strong confluence for a rebound around the $25-$35 region.
EW market structure seems to indicate that the larger WXY correction where the Y-Leg is made up of an ABC Zig Zag is coming close to completion, pending the last 5th wave drop of the smaller degree.
This also coincides with the Fibonacci Confluence of both the Fibo Retracement zone of 78.6% to 88.6% ( Harmonic Gartley or Bat ) as well as the Fibo Extension zone of 100% to 138.2%.
Both are high possibility inflexion zones where prices are likely to make a "U" turn.
If investors still believe in Fastly's growth trajectory, accept the shock loss of their CFO and can look beyond the short term setback where the edge-computing specialist came up slightly short of estimates in its first-quarter earnings report, then the prognosis going forward will be an rebound rally that could double to triple your investments.
EW market structure seems to indicate that the larger WXY correction where the Y-Leg is made up of an ABC Zig Zag is coming close to completion, pending the last 5th wave drop of the smaller degree.
This also coincides with the Fibonacci Confluence of both the Fibo Retracement zone of 78.6% to 88.6% ( Harmonic Gartley or Bat ) as well as the Fibo Extension zone of 100% to 138.2%.
Both are high possibility inflexion zones where prices are likely to make a "U" turn.
If investors still believe in Fastly's growth trajectory, accept the shock loss of their CFO and can look beyond the short term setback where the edge-computing specialist came up slightly short of estimates in its first-quarter earnings report, then the prognosis going forward will be an rebound rally that could double to triple your investments.
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