Does FEYE has the fire to rise?

Ανοδική διάσπαση?
September 22, 2016
US Stocks analysis : RIG FCX DIS
September 22, 2016

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$. My risk is a break below 13.50$.

triangle-formationew feye

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…..

thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.