After a strong run, FUBO for the first time paints a "NoGo" color. We can see that the stock has consolidated in a coiling pattern for the last few months but until now was able to continue to paint the blue and aqua of the "Go" trend.
The GoNoGo Oscillator crossed below zero some bars ago which caused more concern for the "Go" trend and this current price action...
Despite what was seen as good results the stock failed to break higher and ended up dripping lower before
finding support on the downtrend. This is now a must hold level for the Bulls or the Bears can drive it back down to the $33-$35 region.
Today will test the true resolve of the Bulls.
Another lazy trade for today, just an event play.
Very risky to holding neutral positions in uptrend, so literally just for a few days on table.
Event plays are usually a "trade and pray" strategy, so I'm not preferring (TastyTrader Bob and Tom like it, but I've sucked many times width them)
In current case I've decided to take the risk.
We're looking for FUBO to continue bouncing higher along the rising trendline until we breakout around 47s to test 50s and eventually test 60+. Good ER and technical setup for a lower risk add tomorrow morning and on dips, good luck.
DImanod Hands needed here. Price is at support and also on our demand zone. TUTES flocking in as if there are the ones having FOMO. Earnings coming up 2nd March. I dont think there's anything else to say. Everything is aligned together, high probability trade.
We'll see how it plays out.
Please do your own DD.
$FUBO today broke above 39-40 area making its resistance new support. The stock closed at 41.89. Currently in the aftermarket post earning the stock is down (6.66%) currently in the 38 area.
Tomorrow's movement is crucial to the direction of $FUBO. I am not putting to much weight on AH movement. I expect $FUBO to close above 40 tomorrow. With a PT of 52.00
Fubo has a potential run to the triple digits sometime this year. I'd suggest buying in as it has a huge force of investors on it's back and with streaming services running the game in the market it would be quite smart to get aboard this stock and watch the percentages increase. Bullish.
$FUBO has a ton of more upside considering both technicals and fundamentals. If you're interested in fundamental analysis, DM me or comment - I trade live and publish my long-term thesis. See my $ROKU post for my style of DD.
$FUBO is in a solid uptrend with high short interest by dumb money shorts. I won't be nice, the market isn't nice. The shorts in this...
Fubo TV shares hit support last week, and the MACD indicator just crossed. In addition to that, Fubo is a growing company that has huge potential for the long-term. I am expecting a large upside this month, potentially 50+%. There is a potential downside here, as we are experiencing volatile markets right now, but I think this stock is a clear winner. Good Luck!
The Symmetrical Triangle is a contraction pattern and can take months to form.
The sides of the triangle slope equally (symmetrical)
The triangle has lower highs AND higher lows – at least two of each to each trendline, a squeezes in to the apex of the triangle. Price cannot be squeezed forever.
This means volatility in the market is shrinking and a sign the...