Does FFIE have another bullish move left? LONG

已更新

FFIE had an explosive move from about 0.50 to 4.00 before retracing down to the 1.10 range

where it got support from the 0.786 Fibonacci level. That is to say it retraced beyond the typical

0.5 to 0.618 levels. The question now is can it move higher and will buyers pile into the

stock at this relative discount. I think that they will. As a result, FFIE could retrace the trend

down by 50% and end up targeting 2.30. The sequence of candles for the reversal setup are

noted in the text box on the 30-minute chart. This is a potential 100% trade. The stop loss is

the recent pivot low at 0.75. The Reward to Risk is about 4. The stop loss of about 28% will be

moved to break even if the price gets over 1.35 making the trade risk-free thereafter.

FFIE needed to rest but could easily resume with another leg of bullish momentum.

注释

Zooom in view

交易开始

20% Partial taken at the tap of 2.20; another pullback; Volatile as expected. Will add half of the 20% partial back when a reversal up is seen

交易开始

Another 20% partial taken at a small loss to trim the position as the trade is moving against the idea.

交易开始

Price has fallen into oversold. Adding 20% back into the trade. looking for another
resumption of bullish momentum.

注释

FFIE stable on a bad market day bodes well for more momentum.

注释

Now targeting 1.42 based on a high-volume node on the profile.

注释

investorplace.com/2024/05/the-clock-is-ticking-for-faraday-future-ffie-stock-to-regain-listing-compliance/

交易开始

FFIE on the low time frame is printing a flat bottom triangle pattern with falt support but a falling resistance trend line. Price compressing with overall negative volatility and bearish bias. I will average out in pieces in the next day and then look for recovery and a bounce.

交易结束：到达止损

FFIE was in a TTM squeeze until earnings on the squeeze release bearish momentum unleashed from that report. Trade is finished. Will look for a bullish reversal from the watchlist.