Cloud computing platform firm Fastly ( FSLY) has rallied the past three months. Prices made a long and painful decline from its zenith in 2020 and the question now is whether prices have finally put in a bottom.
Let's check the charts and indicators before we pass judgement.
In this daily bar chart of FSLY, below, I see that the $10 area has attracted interest since May. Prices made a lower low in December but the dips below $10 since September have been relatively short lived. The trading volume increased sharply in February when prices rallied above the 50-day and 200-day moving averages.
The On-Balance-Volume (OBV) line shows strength from early December and tells me that buyers of FSLY are being more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator shows improvement from September and is now above the zero line in buy territory. 
In this weekly Japanese candlestick chart of FSLY, below, I can see the past three years of price action. It is hard to miss the big decline from 2020. Prices declined to early 2023 but now trade back above the bottoming 40-week moving average line.
The weekly OBV line shows an upturn the past four months and that development is encouraging. The MACD oscillator has finally edged back above the zero line for an outright buy signal.
In this daily Point and Figure chart of FSLY, below, I can see a potential upside price target in the $22 area.
In this weekly Point and Figure chart of FSLY, below, I see a price target of $21.
Bottom line strategy: Traders could probe the long side of FSLY below $15 but they will probably need to risk below $9. The $21-$22 area is my initial price target for now.
