Technical analysis by ben_walther about Symbol FET: Buy recommendation (6/21/2024)

FET has flashed a bullish MACD crossover on the 1D chart. Based on backtests, the signal shows a solid probability of achieving more than 10% gains. The signal calculates the profit potential even higher at a level of 34%. However, based on the current chart, this would imply a break of resistance at $2. If FET manages to break through, a run towards $2.5 looks possible. However, it might wise to take first profit at the $2 level — which still results in 20% gains. Let me know your thoughts.