This story was originally published here.
Stocks churned higher for most of Friday’s session, setting the stage for the start of earnings season next week. With that in mind, let’s look at a few top stock trades for Monday.
Top Stock Trades for Monday No. 1: Fastly (FSLY)
Fastly (NYSE:FSLY) stock has been absolutely incredible, rallying from $10.63 at the March low to more than $100 this week.
On the way up, we outlined a couple of key levels, including $75 and $84. These are the 261.8% and the three-times range extensions from the prior range. I also flagged the 361.8% level and the $100 mark as a potential upside target.
After briefly exceeding these marks, however, shares seem to be cooling off a bit.
Now we need to see where support comes into play. Start with the 10-day moving average near $88. Below that puts the 20-day moving average in play, followed by the extensions we highlighted in the chart at $84 and $75.
Above $100, though, and the $102.95 high is in play.
Editor's Note: Click here to keep reading.
It’s pretty crazy stuff.
It’s of a mind-blowing new type of battery insiders are calling a “paradigm shift” in energy technology…
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Editor, Matt McCall’s Investment Opportunities