FireEye is trapped inside a symmetrical contracting triangle since March. I believe a final wave E should follow that could push FEYE towards $16.
FireEye is trapped inside a symmetrical contracting triangle since March. Usually triangles consist of 5 waves (A-B-C-D-E) and as we find it near the lower boundary I believe a final wave E should follow that could push FEYE towards $16. My risk is a break below $13.50.
The Stochastic oscillator is oversold in the daily chart and shows signs of an upward reversal. This is not a confirmed reversal signal but an important warning for bears.
If you are interested in other US stocks do not hesitate to send me an e-mail and ask me to take a look at them…..
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