This post follows the trade idea posted on 30 March. Price is now coming down to a very low risk zone for a long swing position.
First, I could be all wrong here and maybe FUBO will not make a substantial move up. That said, price is less than $1 from recent lows so consider the risk to reward. Buy the stock or give yourself time in calls.
The daily chart shows a broken downtrend line and a bullish stochastic %K signal. RSI however is still under 50 and it looks like a retest of lows is underway.
Now, for the best part - look at that selling on the 30min chart. Learn to recognize algo-controlled price action. Notice the long series of mostly uniform candles, all red. These candles do not show a natural dynamic between buyers and sellers. Someone is playing games with this stock, in my opinion, and I am willing to take a long position for a sizeable price increase (if it happens).
The yellow rectangles show what happened the last time RSI moved out of the oversold zone, and I am looking for signs of a similar move this time. The green lines show three price good places to buy stock or calls. If you want a stronger signal to go long, wait for higher close, a reversal candle, or a close over 20ma on the daily chart.
First, I could be all wrong here and maybe FUBO will not make a substantial move up. That said, price is less than $1 from recent lows so consider the risk to reward. Buy the stock or give yourself time in calls.
The daily chart shows a broken downtrend line and a bullish stochastic %K signal. RSI however is still under 50 and it looks like a retest of lows is underway.
Now, for the best part - look at that selling on the 30min chart. Learn to recognize algo-controlled price action. Notice the long series of mostly uniform candles, all red. These candles do not show a natural dynamic between buyers and sellers. Someone is playing games with this stock, in my opinion, and I am willing to take a long position for a sizeable price increase (if it happens).
The yellow rectangles show what happened the last time RSI moved out of the oversold zone, and I am looking for signs of a similar move this time. The green lines show three price good places to buy stock or calls. If you want a stronger signal to go long, wait for higher close, a reversal candle, or a close over 20ma on the daily chart.
Comment:
Price is testing lows and we are at lowest green line on 30m chart for entering a trade. This is the lowest risk place to buy a position or calls. Allow time in your calls, maybe going out past earnings.
