FUBO made a beautiful break above 30 today. I have been watching FUBO base and reject off the 30 zone for while now. See previous posts. Price gapped up this morning consolidated for a bit then exploded higher. If you missed the move is best not to chase the latter part of the move because a lot of the volume may have been shorts covering. Once the shorts are thinned out there can be a vacuum effect and price falls back down. Best entry now would be a pull back into the shaded box with targets at the dotted lines above. If price gaps up into the lower target I would wait for a reset. By that I mean wait for price to consolidate and play the break to the higher targets. Given the volume today there is a good chance price has more to go.
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For those looking to enter this here is how I would like to play. Because it has gapped the next target would be the 618 at about 43. My preferred setup would be a pull back into the first green box at 36/34. If it runs I don't chase. Make sure you have a plan and know your time frame. If you are thinking longer term its OK to start building a position over time. ie buying in 3 lots to get a good average price. As long as this stays above the lower green box the base would be intact.
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So FUBO offered a good entry in the 35/36 zone with a quick push to 38. I was already in the name so I actually added at 35.80 and trimmed again at 38.. My stops are at break even hoping for a push above 40 on the rest. Let see how it plays out. Hope the detail helps.
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Took off another 1/3 close to break even. Holding last bit longer term if it can stay above 30.
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Holding small bit but don't really like the price action. Could do this for a while. Another break below 30 and I'll close the rest.
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Working again. Will like re chart this one if price can work its way up close to 40.
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Wasn't able to re-chart this but I hope some people stayed in and caught this move. Hit all my original targets.
