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.
MID-TERM: Close to a bullish crab, bounced at the 2.618, which was also an iceline. Classic bullish divergence already confirmed on daily, but developing on 4hr. (not financial advice)
I've been hoping that Fubo remains above the 99 days moving average and doesn't get bearish cause I saw Fubo for the first look a bat but today I see a crab!
crab harmonic pattern:
CD=1.6 XA=$6.7
or
CD=2.6 BC=$5
or
CD=3.6 BC=$2
Hey all
The idea is that FUBO has created a deep range of bag holders around the 27 - 28$ mark, which will probably provide for strong resistance in the days to come.
I would like to see the name retest a double bottom around 20$ before taking a long position.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and...
FUBO - NEUTRAL
- FUBO currently at a major decisive point.
Scenarios:
Long:
- Bounced off of .786 Fib
- Giant Volume Candle on the daily
- Possible ignition of trend reversal (to the upside)
- Look to enter long if a 30m candle closes above $25, target Point of Control at 28. Might move higher to .618 fib at 29.50
- Bottoming out action present chart
-...
FuboTV popped 12.7% Friday after the sports-focused streaming service announced a deal for the exclusive rights to a major set of soccer matches.
Price supported by 200D MA.
Break and closed below recent low @ $20, the bear will continue.
Resistance. $26/$30
Finally we see a reversal in RSI trend line even though I am not sure if this is a valid indicator.
Combined with highest daily volume .
Combined with news regarding football broadcast announcement.
All indicators look to have a higher price next week.
All comments /critique are welcome . I am trying to learn.
