Take a look at the 1-year chart of FireEye (Nasdaq: FEYE) below with the added notations:
FEYE fell off a cliff after its March peak. However, since bottoming near $25 last May the stock stabilized and has been trading mostly sideways since. The more important thing to note is that FEYE has a key level at $45 (blue) that it has recently broke back above. This should lead to another leg up for the stock.
The Tale of the Tape: FEYE has a key level at $45. A trader could enter a long position on a pullback down to $45 with a stop placed under the level. However, a short trade could be made instead if the stock fails to hold $45.
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