Don't get caught by a false breakoutWith all the chatter going on, its tempting to see this stock breaking above the critical levels ($35) in next few days. But before i enter into this stock, i would like it to see a pullback to $30 or below.
IMO, this will give a false breakout and touch $36 and will be sold to bring it down.
FUBO trade ideas
FUBO LongTrendline break + Trendline break
Above Support zone
11/9 earning
Entry 29.8
Stop 27
Target 43
Risk management is much more important than a good entry point.
The max Risk of each short term trade should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
$FUBO IF ONLY...
1st Target : $60
Long Call: Buy 4x 21st Jan 2022 $45.00 Call @ $1.95
Entry cost: $780.00 (debit)
Maximum risk1: $780.00
Est. return1 at target price: $5,220.00 (669.2%)
Probability of profit: 21.3%
2nd Target : $130
Long Call: Buy 16x 21st Jan 2022 $75.00 Call @ $0.49
Entry cost: $784.00 (debit)
Maximum risk1: $784.00
Est. return1 at target price: $87,216.00 (11124.5%)
Probability of profit: 2.6%
Monster bull flag on FUBO chartFubo has been on a nice run lately but I think its just getting started. I expect a massive breakout of this bull flag and a push to $38-$40 in the next few weeks. Great growth stock that is being slept on. Not for long though, FOMO buyers will be plowing in before you know it.
$FUBO broke out of Monthly CorrectionMonthly chart patterns are the strongest indicator of where a stock is going. Wicks included for the most part. $FUBO blasted out of a cannon when it went to market via SPAC. A correction ensued. The underlying uptrend (bottom line) remained intact through the correction. So the correction was more a reversion to the mean. The correction formed a downward line of resistance which started at Fubo's all time high and was tested multiple times. The October monthly candle is the first to open and close outside of this downward trendline.