FUBO rose nearly 330% from Nov. 17 - Dec. 23. It was highly anticipated that FUBO would have a major pullback, however it has given up the entire move from Dec. 15 - Dec 23 -- I think this move is an exaggeration.
Bearish catalysts in play: 1) Recent share unlock occurring on Dec. 30th, 2) the Kerrisdale Capital short report.
I think there is an opportunity to play the oversold bounce (high-risk) and begin positioning a long-term investment (low-risk) here.
I will be playing weeklies on Jan. 4th and take a starter position for a mid-term swing / long-term investment. If a clear reversal is in play I will update the idea with further entries. Looking to reclaim the 8EMA on various timeframes.
Weekly positions: 30c 1/8
Bearish catalysts in play: 1) Recent share unlock occurring on Dec. 30th, 2) the Kerrisdale Capital short report.
I think there is an opportunity to play the oversold bounce (high-risk) and begin positioning a long-term investment (low-risk) here.
I will be playing weeklies on Jan. 4th and take a starter position for a mid-term swing / long-term investment. If a clear reversal is in play I will update the idea with further entries. Looking to reclaim the 8EMA on various timeframes.
Weekly positions: 30c 1/8
Note
I averaged down all the way down to 23 on those 30c 1/8. Made out to be a great scalp on the weeklies! + 250% or so.Hanging out in the GP, looking for price action to provide more clarity. The target is still upper 30s if bullish momentum continues.
Note
Target hit, congratulations FUBO bulls
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.