A subscriber emailed me Thursday for an update on Fastly Inc. (FSLY) , a company that provides real-time delivery network services and has seen some volatility recently amid the TikTok controversy.
We recommended the long side of FSLY on June 30 and again on July 21 and wrote that, "A weekly bearish engulfing pattern on FSLY has me on alert. While most of the western indicators are bullish, I have a lot of respect for what the Japanese candlesticks add to the analysis. Raise stops to a close below $75 from below $70. Our $107 price target is still in play if we do not get bearish confirmation of the engulfing pattern."
Prices soared to our $107 price target and retreated so what should we be doing now?