Signs:
Bullish divergence on MACD
Descending wedge contracting
It's seems to be following below the 20EMA, so for this to work I think it needs to break out above it.
Yellow lines show bullish divergence between RSI and price
Yellow oval shows stochastic %K buy alert
As stochastic %D rounds up, price can move to 8.40-8.80 as a first target
Exit position on a break of 11April low - ultra low risk
I suggest buying stock and holding through earnings. If you buy calls then go a few months out.
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...
Price today is trying to break a 30 min downtrend line, not yet confirmed as of this post. Buying volume is up, but not very high. This move follows nicely after the unusual sell off I noted. Stochastic %D is just moving up over 80, which will lead to more buying.
If stock does not break over resistance now it will pullback (maybe consolidate) before making...
I am seeing about 27% short interest in FUBO, but I do not trade on this. My technical reasons are sound, and short interest may drive stock higher if it moves up. There is a large sell block today, 22k, at $8.03, which may clear this week for stock to move higher. Call options are very cheap so I suggest taking 14Apr and later expiry. This stock has not...
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Fubo is in the midst of a powerful downtrend. It is already down more than 70% in the last few months, and my count leads me to believe that shares will lose another 50% of value before this sell-off concludes. If you hold a long position currently, you should strongly consider selling.
Depending on the overall market conditions, FUBO shall reverse in the upcoming weeks.
We had that double tops, trying to see if it can form a double bottom here as well .-.
Bullish Signs:
At long-term support trendline
At bottom of downtrending regression channel
Fighting between middle-term resistance line from the pumps
Short-term RSI bullish divergence
I could see PT1 for the bulls to be around $22, with PT2 being around $30 where the gap is. PT2 coincides with the top of the downtrending regression channel.
RSI leaving the oversold zone.
Fibbonacci bottom @ 16.26
MACD curling up with CMF showing good money flow in
Taken position for Santa Rally
Fib pivot points - 18.40 - 24.56 - 30.72 - 34.53
