$FSR
Added 2023-11-01 17:32:14 +0000 UTC$FSR did not hold above the $6.40 line, it got rejected at this line, which was also the 200 Day MA and the 50 Day MA was very close by too.
This was a strong confluence level and $FSR needed help from the bulls to get above this important level that we have been tracking all year.
It could not do it and also announced that they were reducing their price for their Ocean Extreme, which dropped the stock hard.
Came all the way down to the all time low and so far has found support but it is at a difficult position now.
The impulse wave can not be valid if a new low is made.
Ideally we would like to see a double bottom here now and bounce on the low line at $4.30.
Earnings are out on the 8th of November so we still have another week to wait before this to possibly act as catalyst.
Failure to hold the low at $4.30 and this can move down to the wedge trend line which is at $3.30 right now.
