Fisker trading analysis for the week ahead as we take a look at the weekly stock chart to try to determine what will happen this week.
Fisker held its Q2 2022 earnings call last week. The news was overwhelmingly positive. The big news for investors was the company confirming Fisker Ocean One is completely sold out. Additionally, the company provided a lot of updates on the Fisker Ocean program including the company now having 56,000 reservation for their electric SUV.
After earnings on Thursday, Fisker shares reached $11.41 — a level they haven’t seen in a while. Later in the day, the company saw a few downgrades by equity analysts. By the close of the stock market on Friday, Fisker shares shrugged off the downgrades.
Fisker shares managed to close above $10 again on Friday for the second week over the past 30 days. Now, let’s take a look at the stock chart for the past week and what we expect in the week to come.
What happened to Fisker shares last week
This past week, Fisker bulls managed to surprise the bears. The bulls visited the $11.41 level after earnings last week. However, this zone was rejected strongly as we expected.
Bears showed real muscle to fight back and dropped Fisker’s share price to $9.33. This was a 20% swing in share price in just two days. With bulls opening new stock positions and bears closing to take profits, Fisker stock managed to close at $10.17/share.
This added an inverted hammer formation on the weekly stock chart. It also added a Pin Bar daily. The Pin Bar is a powerful signal of price reversal in a currency trading strategy. Both would have been bearish if Fisker shares broke the $9.30 level.
What to expect next week
This week ahead, we expect Fisker shares will visit the $10.45 to $10.50 zone again. Bears will fight since it is a strong resistance. If we close above that level, then Fisker shares will test the $10.90 zone.
Otherwise closing below $9.70 (green line) shall drop Fisker shares again to the $9.30 zone. This is where it should find strong support on the weekly chart. If Fisker shares were to break this level, then last line in the sand at $8.85/share must hold.
We just made a higher high last week and have been making lower highs on a smaller timeframe. This can indicate a bullish formation if shares go to higher timeframes in the coming weeks.
This guest blog post is written by @khaled_kayuae. He is a professional investor, swing trader, and chartist with a long position in Fisker ($FSR) shares.
Reserve Your Fisker Ocean
You can reserve your Fisker Ocean or PEAR by visiting https://fiskerinc.com/reserve. Use referral code DDK87H.
Connect with Fisker enthusiasts on Fiskerati Forums to ask questions and discuss topics about the Fisker Ocean, PEAR, and RŌNIN supercar.
Fiskerati Mobile Apps
Connect with Fiskerati
Questions? Partnerships? Have a tip?
Reach out – we are new and open to collaboration. We are looking for two or three site sponsors. Get in touch by sending an email to [email protected].
Get our free newsletter This Week In Fisker direct to your email inbox!