Fastly Inc is in the cloud computing business, and has had a major rally from the March 2020 low before peaking for a large degree correction in September 2020.  Lets take a look at what the company does and see what the charts say about the future of this company.

“Fastly, Inc. is an American cloud computing services provider. Fastly’s edge cloud platform provides a content delivery network, Internet security services, load balancing, and video & streaming services. Fastly’s headquarters are in San Francisco, California, with additional offices in Denver, New York, Portland, London, and Tokyo.

Fastly describes their network as an edge cloud platform, which is designed to help developers extend their core cloud infrastructure to the edge of the network, closer to users. The Fastly edge cloud platform includes their content delivery network, image optimization, video & streaming, cloud security, and load balancing services.

Fastly’s cloud security services include distributed denial of service (DDoS) attack protection, bot mitigation, and a web application firewall. Fastly web application firewall uses the OWASP ModSecurity Core Rule Set (CRS) alongside its own ruleset.”

Lets dig into the charts!

Chart

Long term term view from 3/16/2020 lows of 10.54. This stock is favoured to be correcting the whole cycle since the March 2020 low (all time low).  Wave ((1)) is set at 46.35 on 5/22/2020 and wave ((2)) at 36.03 on 4/27/2020.  After that, an extended Black ((3)) took place, which peaked on 10/13/2020 at 117.79.  From there, Black ((4)) at found a low on 9/04/2020 @ 71.39.  After that, one final rally took place into Black ((5)) of Red I is favoured peaked  10/13/2020 at 136.50.

After the Red I peak, a sharp pullback took place for ((A)) which saw the stock price take a 50% haircut in under a month.  ((B)) bounce peaked in January 2021, and now the stock is working on the final ((C)) decline.  There is a blue box extreme area that the stock can bounce from.  This is an area where Algo’s are programmed to react to the equal leg measurement for ((A)) and ((C)).    Even though prices are in the box, the sequence still has more room for further declines.  A couple more lows are favoured to take place before a longer term low can materialize.

In conclusion, more downside can take place, but selling short the instrument down here in the hole is not a favourable trade.  Moreover, shorting at a blue box where buyers may enter for a bounce, can be extremely risky.  The all time low of this stock is 10.38, prices are not able to invalidate this low in order for this count to remain intact.

Share: Feed news

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Recommended content


Recommended content

Editors’ Picks

EUR/USD remains near 1.0400 post-US PCE

EUR/USD remains near 1.0400 post-US PCE

The US Dollar’s inconclusive price action allows some recovery in EUR/USD, keeping the pair around the 1.0400 region following the release of PCE inflation data for the month of January.

EUR/USD News
Gold slumps to fresh multi-week lows below $2,840

Gold slumps to fresh multi-week lows below $2,840

Gold stays under bearish pressure and trades at its lowest level in three weeks below $2,840. The uncertainty surrounding the Trump administration's trade policy and month-end flows seem to be weighing on XAU/USD, which remains on track to snap an eight-week winning streak. 

Gold News
GBP/USD clings to gains just above 1.2600 after PCE data

GBP/USD clings to gains just above 1.2600 after PCE data

GBP/USD remains positively oriented in the 1.2600 neighbourhood as the Greenback is navigating a vacillating range following the PCE inflation release.

GBP/USD News
The week ahead – US Payrolls, ECB rate meeting, ITV results – W/c 3rd March

The week ahead – US Payrolls, ECB rate meeting, ITV results – W/c 3rd March

Having seen the Federal Reserve keep rates on hold last month the US labour market continues to show remarkable resilience, despite seeing a slowdown in hiring in January, after a blow out December number. 

Read more
Weekly focus – Tariff fears are back on the agenda

Weekly focus – Tariff fears are back on the agenda

While the timing of the EU measures remains still uncertain, Trump surprised markets on Thursday by signalling that the 25% tariffs on Canada and Mexico will be enacted when the one-month delay runs out next Tuesday. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025