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Let's check out the latest charts and indicators.
In the daily bar chart of FSLY, below, we can see that prices are up four-fold from the low in March and more than doubled in the month of May. FSLY is above or should we say extended above the rising 50-day moving average line and above the rising 200-day moving average line.
The daily On-Balance-Volume (OBV) line has been rising the past 12 months and tells us that buyers of FSLY have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is in bullish territory but close to a take profits sell signal.
In the weekly bar chart of FSLY, below, we can see that prices broke out on the upside from a sideways consolidation pattern in the $25-$20 area. Prices are above the 40-week moving average line.
The weekly OBV line is strong and the weekly MACD oscillator is as well.
In this Point and Figure chart of FSLY we can see a potential upside price target in the $65 area.
Bottom-line strategy: Even though the rally in FSLY has been steep, I find no bearish divergences to cause me to be cautious at this juncture. Aggressive traders could go long FSLY risking a close below $39. The potential upside price target is $65.