Fisker shares closed the week at $9.85 up $0.52 (5.57%) with another wild ride on Wall Street.
There is not much change to the market this week. More volatility. Repricing of shares in growth companies. Yada, yada, yada! There was a post earlier this week about all of the stock market drama. However, Fisker managed to squeeze out a gain this week with the stock closing the week at $9.85 up $0.52 (5.57%). Then, another $0.14 in after hours to finish at $9.99. <— Sale price?
Fisker Shareholders: Don't forget to review the latest Fisker Investor Presentation from May 2022.
Another tough week for Fisker shares
This week was very tough for both Fisker Bulls and Bears. The market maker in $FSR shares acted so smart. They took all stops out for Bulls with a big drop all the way to an all-time low at $8.04. Then they trapped the BEARS who were short. Then, they closed with a nice weekly hammer candle up until now.
Don’t be fooled, the market make in a security can play with their order book. They are up to something in the coming weeks. Weekly charts has a lot to say:
- Demand Zone has been touched and rejected 5 times since October 20, 2021.
- This week we saw a clear BEAR Trap.
- Nice long wick Bull hammer candle formation on weekly chart (needs confirmation next week) for a swing low in the process.
- Bulls are now targeting the $16 zone, but need to clear the Bear camp at the $12.80 zone.
Will $FSR rally next week…
What’s next for $FSR shares this week? We could reach the $11.30 zone easily. That is if Bulls can clear $10.80 resistance first. However, any close below the $9.60 zone and this progress will be delayed. My stock chart analysis will be void.
This guest blog post is written by @khaled_kayuae. He is a professional investor, swing trader, and chartist with a long position in Fisker ($FSR) shares.
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