Make It Or Break It Time For Fisker Stock: Technical Levels To Watch
Fisker Inc. (NYSE:FSR) stock is trending Friday and looks to be nearing the point of the triangle in a descending triangle pattern.
Fisker shares were down 3.64% at $15.34 at last check Friday.
Fisker Daily Chart Analysis: The daily chart above shows that Fisker stock looks to be forming what technical traders would call a descending triangle pattern.
The flat bottom of the pattern looks to be near the $14 mark. The $14 mark is a place where the stock has found support before and has been unable to cross below in the past.
The resistance in the pattern can be found by connecting the previous highs on the chart. The stock may hold this line as resistance in the future until the line is either broken or the descending triangle pattern is confirmed.
The stock is looking to find support near the 200-day moving average (blue). This is an area that has been able to hold as support in the past. Sentiment in the stock may be bullish for the year, as the stock is trading above this average.
What’s Next For Fisker? Bullish traders would like to see the stock cross above the potential resistance line and to start building higher lows. A cross above the resistance line may cause the trend to change back bullish.
Bearish traders would like to see the stock continue to fail to break above the resistance line and push lower to the $14 support. A break below this $14 support could cause the stock to see a stronger bearish push.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.