FUBO - the trade worked - take profits and avoid greedI have linked Monday's trade idea. I believe in technical trading, not gambling, and certainly not greed. Hence I have sold my calls with a fabulous gain. You may choose to hold a bit for more upside, but be honest with yourself (all short squeezes eventually end) and take at least half of your profits!
FUBO trade ideas
FUBO - RSI over 50, momentum building, 65% short floatThe blue bar on chart was a resistance area and price today opened above it. As long as RSI stays over 50, I am looking for this stock to move higher once short squeeze kicks in. The green line on DMI will start moving higher if this move occurs.
Huge upside potential Potential gain: +75%
Reward/Risk:>4.5
Timeframe: 4-12 weeks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
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ABC BullishPossible stop under C or last pivot low..which using these pivot points is C so not much help..
(I had used some pivots on here that were little triangles but can not find them) I liked them because I do not like a lot of stuff on the chart..
This one has been high then possibly found a bottom..lots of volume off and on in last few weeks..
You may want to find a different long entry level than the one I used. It does make a difference on the targets as the AB leg length and fib levels are added to long entry level..
Not a recommendation
Buy Red/Sell Green...
Long entry level is important so you do not have to look at losses everyday. Negative )o:
I am thinking smart money got in this at the bottom like before it broke to the upside between 8 and $10...is usually smart money accumulation phase. Some older stocks could have been accumulated decades ago by smart money. Then there is the general public accumulation phase which is usually after an uptrend has started. Then there is distibution by smart money continually up to and at the top. Many times the general public is still buying while they are selling..be safe
FUBO 2021-01-19FUBO is currently uptrending nicely in the middle of a primary wave 3.
It is currently sitting at the lower bound of the pitchfork, so it is a BUY.
Primary target 104.96 by June before a nasty correction to 74.
--FUNDAMENTALS--
Fubo is a sports streaming service. They're seeking to differentiate themselves from YoutubeTV/other competitors by offering live sports betting on their service. I believe they're also looking to sign exclusive sport streaming deals as well to further differentiate themselves.
With the recent Cuomo tweet seeking to legalize sports betting to help a battered NYC recover, we can assume the rest of America will follow suit due to the need for tax dollars.