Juliac

FISV - Cup formation

NASDAQ:FISV   None
FISV peaked @ 125 on Feb2020, then went into consolidation and retested this level more than a year later in Apr2021 (surpassing by 2 +). The breakup of Cup-1 failed and this time FISV went into a 2 year consolidation (forming Cup-2). It now looks ready to revist this neckline (125 - 127) in the coming weeks.

I suspect the odds of a successful break up this time is higher as since hitting the low in June 2022, FISV has shown good relative strength to SPX as it began to rebound (despite it's volatility, including a brief plunge in March brought on by the fear from Silicon Valley Bank's collapse).

I might consider to test a small amount now (with initial stop just under 115) and look to add if it managed to break up above 127 successfully (ie having a "close" above the neckline for more than a few days).

Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie positions sizing, stop loss etc) is important! Take care and Good Luck!
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