Fubo broke above trend line and still has 20% till next resistance. Furthermore, it can move even higher. FUBO has a lot of fuel after positie Q1 earnings report.
It has been a panful decline and may not be over but there has been some rest bit in recent days.
The stock is trying to form a bottom having today closed above the POC.
Volume is steadily gaining bullish dominance.
Bullish divergence on the indicators has aided.
2 key alerts set for Tuesday
- A break above the 21EMA
- A break above the 200ma
If this can be...
(Video breakdown) $FUBO has earnings on 5/11 and as its dropped to these low levels I am expecting shorts to start covering and we could see a potential bounce up to resistance in the 28.00-27.50 range.
Recently stock price crossed above the trendline resistance, giving a positive implementation opportunity for a bullish divergence movement.
The next challenge above is 23.31$ (Close price).
The main support area is 18$-17.4$
Not recommended to buy or sell FUBO stocks.
could see some upside in short term if top trendline breaks, but this stock price action screams pump and dump scam to me. also the big chatroom that keeps pushing this stock calls out mainly losing plays! i feel sorry for longs here, ill never add this to my portfolio. goodluck and be careful! dont forget to like and follow if you enjoy my ideas <3
All the higher time frames remain pretty bearish. However, a falling descending wedge can point towards a good reversal. Earnings on 5/11 might be a good catalyst.
I should hedge my bearish positions with some puts incase FUBO falls towards $15.
I might just take the L depending on how things go.
If it bounces to $22, I'll breakeven, as the 20SMA on the daily...
It is currently rebounding above the 0.61 retracement of the entire upward movement, which coincides with the floor of the medium-term bearish channel. The daily RSI is oversold. Several parameters that could indicate a downward price depletion and a possible trend reversal in search of the center of the downward channel in the first instance.
