Fisker shares closed down this week 2.94% paring losses from Tuesday as the stock was down over 20% at one point.
This guest blog post is written by @khaled_kayuae. He is a professional investor, swing trader, and chartist with a long position in Fisker shares.
The stock market will be closed tomorrow on May 30th. However, we’re here with the four day $FSR stock analysis. Fisker shares were a rollercoaster this week while all major stock market averages closed over 6% on the week. This was due to Fisker launching a $350 million equity offering. The good news, Henrik confirmed the company didn’t raise a dime this week. The company filed papers to raise money at a future point in time like it said on its Q1 2024 earnings call. With all of this drama, Fisker stock closed the week at $10.75/share.
Let’s dive into Fisker’s shares with a recap
What a week!! We opened at $11.02 on Monday. By Tuesday, Fisker shares dropped with a huge gap to $8.04. Throughout the week, the Bulls kept pushing the price of Fisker shares back. The stock recovered to the fibonacci 78.6% level of the drop ($10.64). This shows we have very strong Bulls waiting for single digits to load shares of this stock. The week was so volatile we reviewed the stock chart mid-week.
What we expect next week?
This upcoming week, we have a very high chance to see high $12 zone if Bulls break $11.15 and the share price stays above it. Bears will also try to push the share price to the low $10s if bulls can’t break $11.15. If the share price drops down to low $10s, it will be a great place to start loading again with $9.80 as a support level.
The Fisker chart shows we have a bullish divergence on RSI (relative strength index). Plus, if you notice the distance between circles they are usually 90 days apart on average. This time we are overdu,e since it exceeded 140 days without visiting the homebase. If we touch the pink zone, that will take our price to $15/share in the coming weeks passing our last swing high.
Also, next week will be the last week of the month. We are very excited to see the closing candle on the chart at the end of the month.
This guest blog post is written by @khaled_kayuae. He is a professional investor, swing trader, and chartist with a long position in Fisker ($FSR) shares.
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