Figma Stock Surges 269% In Two Days Amid Extreme Volatility

Figma(FIG) rose 5.63% in the most recent session, extending gains to two consecutive days with a staggering 269.70% surge during this period. Closing at $122 after trading between $110.11 and $142.92, the stock demonstrates extraordinary momentum, though the extreme volatility warrants cautious technical examination given limited historical data availability.
Candlestick Theory
The latest candle shows a long upper wick ($142.92 high vs. $122 close) after the prior day's large bullish body ($115.50 close from $84.11 low). This pattern suggests exhaustion near the $143 resistance level, where profit-taking emerged. The $110.11 low now establishes immediate support, while rejection near $143 creates a clear resistance zone. The two-day structure resembles a volatile "bullish thrust" phase, requiring confirmation of either breakout sustainability or reversal signals.
Moving Average Theory
Due to insufficient historical data, traditional 50/100/200-day moving averages cannot be reliably calculated. The extraordinary 269% two-day surge implies the price has sharply deviated from any longer-term averages. Should the uptrend continue, traders will monitor for consolidation periods allowing moving averages to realign with current price levels.
MACD & KDJ Indicators
Calculation constraints prevent meaningful MACD analysis. For KDJ, the surge to $142.92 followed by a close at $122 indicates potential stochastic reversal signals. The failure to sustain highs despite massive gains may foreshadow short-term overbought conditions, though extreme momentum makes oscillator reliability uncertain in this context.
Bollinger Bands
Extreme volatility is evidenced by the $58 intraday range (low $110.11 to high $142.92) on August 1. Band width expansion reflects high volatility clustering around the surge climax. The close near the band's lower half after touching its upper extremity hints at short-term mean reversion pressure. Support at $110 aligns with the lower band trajectory projection.
Volume-Price Relationship
Volume decreased 14% to 55.6M shares during the 5.63% gain day, following 64.4M shares on the initial surge day. This divergence suggests weakening conviction at higher prices despite persistent buying pressure. Declining volume during continued advances warrants caution regarding trend sustainability, though absolute volumes remain exceptionally high.
Relative Strength Index (RSI)
Using a simplified two-day calculation: Average Gain = (269.7% + 5.63%)/2 = 137.67%, Average Loss = 0%. This yields an approximate RSI reading of 100, indicating extreme overbought territory. Such readings typically precede pullbacks, but the anomalous magnitude of gains requires contextual skepticism about reversal timing. Traders should monitor for price consolidation to normalize momentum conditions.
Fibonacci Retracement
Applying Fib levels to the $84.11 (July 31 low) to $142.92 (August 1 high) rally reveals key thresholds. The 23.6% retracement ($130.80) was violated intraday, while the 38.2% level ($119.18) provided dynamic support during the pullback to $110.11. Closing at $122 positions the price between the 38.2% and 23.6% markers. These levels now define critical support ($119.18) and overhead resistance ($130.80). A sustained break below $119 could signal deeper correction toward the 50% level ($113.52).
Confluence & Divergence
Significant convergence appears at $119–$120, where the 38.2% Fibonacci level, psychological $120 threshold, and the prior day's close ($115.50) create layered support. The volume decline contradicts ongoing price gains, introducing sustainability concerns. Most notably, RSI extreme overbought readings conflict with Bollinger Band expansion signals, creating uncertainty about near-term directional continuity despite overwhelming bullish momentum in the two-day window.