FLNC closed at a very important level on Friday. Price closed around 22.91, which keeps it pinned near the anchored VP VAH at ~22.88 and just above 22.73. That matters because this is the area that needs to hold if this move is going to turn into something more meaningful than a round trip back to the couch.
The main battle zone is now tighter and cleaner. Bulls want to stay above 22.88-22.73 and keep building over the 200 Day at 20.50, the VP VPOC at 20.14, and the 400 Day at 17.36 below. Above these prices, the first upside levels are 30.01 and 33.51. Above that sits the all-time high at 39.40, then the extension ladder at 41.15, 45.61, 49.19, 52.79, and 57.91.
Below the current structure, the downside opens back into 20.50, 20.14, 17.36, 15.77, 13.60, 6.88, and then the lower memory zone at 5.44-3.54. If price starts trading sideways above 22.88-22.73, that looks like a base. If it starts chopping below it, then that same area starts looking like a ceiling.
Bullish case:
Bulls need to hold 22.88-22.73 and stop giving back the entire move every time this stock gets a little excited. If FLNC can build time and volume above that zone, then the first real upside target is 30.01. Clear that, and 33.51 becomes the next gate. If buyers can get through 33.51, then the chart starts leaning back toward the all-time high at 39.40. Above 39.40, the bigger swing thesis opens toward 41.15, 45.61, 49.19, 52.79, and 57.91. The bullish thesis is simple: hold 22.88-22.73, keep defending the reclaim over 20.50-20.14, and use 30.01 and 33.51 as proof this thing is actually trying to trend.
Bearish case:
Bears want this move to fail back under 22.73 and start treating 22.88 like a ceiling instead of support. If price loses 22.73, then I’m looking for a move back into 20.50 and 20.14. If that area fails too, then the next downside levels are 17.36, 15.77, and 13.60. Lose 13.60, and the stock can start pointing back toward 6.88 and the lower memory zone around 5.44-3.54. The bearish swing setup is a failed reclaim of 22.88-22.73 or a breakdown back below 20.14 after all this recent excitement. If buyers cannot hold this stack after a move like this, then they probably were not serious in the first place.
So the read is pretty straightforward:
Above 22.88-22.73 with acceptance, bulls have something to work with.
Below 22.73, this move starts looking weak again.
Clear 30.01, and the chart can start leaning toward 33.51.
Clear 33.51, and the bigger thesis opens toward 39.40, 41.15, 45.61, 49.19, 52.79, and 57.91.
Lose 20.14 and fail to reclaim, and the chart starts pointing back toward 17.36, 15.77, 13.60, 6.88, and maybe 5.44-3.54.
No need to overcomplicate it. FLNC needs to prove that 22.88-22.73 is support and not just another level the stock wanted to sniff before acting stupid again.
This is not financial advice, I'm just a guy with an interest and a Celsius addiction.
~The Villain
The main battle zone is now tighter and cleaner. Bulls want to stay above 22.88-22.73 and keep building over the 200 Day at 20.50, the VP VPOC at 20.14, and the 400 Day at 17.36 below. Above these prices, the first upside levels are 30.01 and 33.51. Above that sits the all-time high at 39.40, then the extension ladder at 41.15, 45.61, 49.19, 52.79, and 57.91.
Below the current structure, the downside opens back into 20.50, 20.14, 17.36, 15.77, 13.60, 6.88, and then the lower memory zone at 5.44-3.54. If price starts trading sideways above 22.88-22.73, that looks like a base. If it starts chopping below it, then that same area starts looking like a ceiling.
Bullish case:
Bulls need to hold 22.88-22.73 and stop giving back the entire move every time this stock gets a little excited. If FLNC can build time and volume above that zone, then the first real upside target is 30.01. Clear that, and 33.51 becomes the next gate. If buyers can get through 33.51, then the chart starts leaning back toward the all-time high at 39.40. Above 39.40, the bigger swing thesis opens toward 41.15, 45.61, 49.19, 52.79, and 57.91. The bullish thesis is simple: hold 22.88-22.73, keep defending the reclaim over 20.50-20.14, and use 30.01 and 33.51 as proof this thing is actually trying to trend.
Bearish case:
Bears want this move to fail back under 22.73 and start treating 22.88 like a ceiling instead of support. If price loses 22.73, then I’m looking for a move back into 20.50 and 20.14. If that area fails too, then the next downside levels are 17.36, 15.77, and 13.60. Lose 13.60, and the stock can start pointing back toward 6.88 and the lower memory zone around 5.44-3.54. The bearish swing setup is a failed reclaim of 22.88-22.73 or a breakdown back below 20.14 after all this recent excitement. If buyers cannot hold this stack after a move like this, then they probably were not serious in the first place.
So the read is pretty straightforward:
Above 22.88-22.73 with acceptance, bulls have something to work with.
Below 22.73, this move starts looking weak again.
Clear 30.01, and the chart can start leaning toward 33.51.
Clear 33.51, and the bigger thesis opens toward 39.40, 41.15, 45.61, 49.19, 52.79, and 57.91.
Lose 20.14 and fail to reclaim, and the chart starts pointing back toward 17.36, 15.77, 13.60, 6.88, and maybe 5.44-3.54.
No need to overcomplicate it. FLNC needs to prove that 22.88-22.73 is support and not just another level the stock wanted to sniff before acting stupid again.
This is not financial advice, I'm just a guy with an interest and a Celsius addiction.
~The Villain
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