FUBO trade ideas
$FUBO – Green Candle Confirmation$FUBO – Green Candle Confirmation
I see a lot of bulls for $FUBO, so I am charting my plan too. A nice big green candle in this sequence will signal a Bullish Breakaway Candle Pattern and confirm a breakout of the wedge and confirm retracement in sub wave 4(?). Would also be a bounce off key levels - EMA and volume profile.
Also positive technicals and oscillators and consolidating volume. I see why we are bullish... let go!
NYSE:FUBO
$FUBO | Still More Upside$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 name are quite short-sighted and will continue to feel pain as $FUBO volume increases and uptrend continues. Large money is entering this name (such as David Einhorn) and if you followed my live trades you'd know this was my first callout of 2021 with a price target of at least $50. I am now raising my price target...
Potential Buy The Dip $FUBO PT50I've been looking for a reason to get in on Fubo, and a low volume pull back sounds like a great entry. I'm likley going to start a position tomorrow and add if it decides to go lower. I want to start scaling out my exit as it previous highs are reached and bag holders unload. I'll buy any low volume pullbacks as this occurs.
Most of the high volume buying was done at 36 this month, but I expect 40 to become a new demand zone should it dip lower as this is the 0.382 fib.
My stop loss will be below the historical demand volume shelf of 36. If it gets below here, the market is in tatters.
FUBOFubotv Inc (NYSE:FUBO) is another heavily shorted stock that deserves your attention. fuboTV is now the second-most shorted name in the US, behind only GameStop. More than 67% of the company’s outstanding shares have an active short bet against them. Still on my top list as a short squeeze candidate. You need to watch stock closely next week. The stock needs to break the $43.30 to go higher.
Not a trade idea. Just observationBearish bat pattern so far is playing out. IF it continues to play out could see 30 or 23. Many targeting a short squeeze. Just thought I'd show my observation in case it does play out. Not super strong conviction on this personally and no way this or anything I say is financial advice but especially not this.