I can see two scenarios playing out with FCEL:
1) The stock is sitting on the 200EMA and tested it July 3,5, and 8th (Today). Seems to want to stay above it.
So, either it will lay flat in this area (.72-.68) or it will drop (possibly gap) back down to the .54 area. The 3 day trend would imply that could happen, unless from the 3rd forward is a Pennant. In which case, it could lay flat.
2) There is resistance at $1, which I'm assuming is psychological because there isn't anything recent coinciding with the $1 mark. Additionally, if we treat the 3rd as the start of a pennant, the stock could very well gap up to or over $1. The volume on previous jumps was low (in comparison to highs), which seems to correlate with the recent "flatness."
NOT ADVICE: I am assuming the 200ema will hold as support. The stock is above all the other ema lines as well. Nothing suggests a dump. Regardless, I've set my stoploss just below the 200ema. If it does return at least I have a good re-entry point.
1) The stock is sitting on the 200EMA and tested it July 3,5, and 8th (Today). Seems to want to stay above it.
So, either it will lay flat in this area (.72-.68) or it will drop (possibly gap) back down to the .54 area. The 3 day trend would imply that could happen, unless from the 3rd forward is a Pennant. In which case, it could lay flat.
2) There is resistance at $1, which I'm assuming is psychological because there isn't anything recent coinciding with the $1 mark. Additionally, if we treat the 3rd as the start of a pennant, the stock could very well gap up to or over $1. The volume on previous jumps was low (in comparison to highs), which seems to correlate with the recent "flatness."
NOT ADVICE: I am assuming the 200ema will hold as support. The stock is above all the other ema lines as well. Nothing suggests a dump. Regardless, I've set my stoploss just below the 200ema. If it does return at least I have a good re-entry point.