I’ve alerted my twitter followers about the potential bounce off the rising 50-day exponential moving average in FireEye Inc (NASDAQ:FEYE) shares on Thursday and the stock has come up to my expectations as it was among the top gainers of Nasdaq exchange during Friday’s session. It ended the day at $15.38 trading more than 5M shares on decent volume.

As you can see from the daily chart posted above all indicators are now crossing up as yesterday’s price printed a nice bullish candle. Nearest resistance for the stock is at $15.75. If this level is crossed and the stock is able to sustain above this level, then it might go to $16.15 again.

On the downside, the stock has support at $14.72. I feel this stock could be a strong option as a long setup if the markets can stabilize and push higher.

This is a guest post by  António Costa, acclaimed trader and the popular author of AC Investor Blog.  All views and analysis belong to the author.

For the Social, Analyst and Sentiment perspective on FEYE and other stocks download our iOS or Android app.

António Costa
I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I write guest posts for Stockal to share my thoughts about capital, risk management, and trading. My posts contains only my personal opinion and are provided for informational purposes only.

Leave a Reply

Your email address will not be published. Required fields are marked *