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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.
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