After the pessimistic outlook on the upcoming earnings, NYSE:FTCH plunged to the $2.50-$2.00 level. Even though this reaction is backed by solid reasons, the fair value for this stock is much higher than the current levels.
Also technically, there is a Bullish RSI Divergence in the 4H timeframe and it may lead the price to the $3 level.
It is one of the prominent players in the Luxury E-Commerce industry and recent agreements and partnerships may boost the price to much higher levels in the long run.
Yet...
It is worth staying cautious since these sell-offs still have a chance to take the price to much lower levels with an avalanche effect.
Also technically, there is a Bullish RSI Divergence in the 4H timeframe and it may lead the price to the $3 level.
It is one of the prominent players in the Luxury E-Commerce industry and recent agreements and partnerships may boost the price to much higher levels in the long run.
Yet...
It is worth staying cautious since these sell-offs still have a chance to take the price to much lower levels with an avalanche effect.
