Foresight Autonomous Gap Up: Technical Levels To Watch

Foresight Autonomous Holdings FRSX shares gapped up on Friday amid an announcement from the company.

Foresight Technical Levels To Watch: The short-term, 5-minute chart above shows the gap as the price moved from around $7 to $8.60 premarket Friday. The stock has since sold off some of these gains.

A key level before the gap was near the $7.40 price, as the price was unable to break above this price. This is an area of potential support if the price were to fall to this level.

A couple potential key resistance levels come near the $7.80 level and the $8.60 mark. The $7.80 level was a place where the stock found some support after the gap up, but was unable to hold. There is potential that this level can become a resistance level in the future. Another level to watch is up at $8.60: this level was near the high during premarket trading where the stock was stopped from too much selling pressure. This area could also hold as a potential short-term resistance.

The daily chart shows the stock looks to be trading in a channel with key levels of $6 and $11.

The $6 level has previously held up as resistance before it was broken.

The stock retested this area as a support level and the price has been unable to cross below this level multiple times.

The price near the $11 mark has shown previously to be resistance. The price has been unable to close and stay above this level for enough time to consolidate and get a higher move.

Bulls would like to see the price cross above resistance with a period of consolidation before the stock may see the next leg up. Bears would like to see the price fall down through the support level and consolidate below before the price may have a chance at falling further.

Foresight Autonomous is trading with a market cap of $466 million.