FUBO trade ideas
FUBO: Short term pullback ahead, but long term to 120Fubo just completed a textbook 5-wave impulsive pattern off the lows. Very bullish. Now Fubo is due for a Wave 2 pullback that will likely terminate in the $25-$29 region. However, given how bullish Fubo has been lately, it may only be a shallow correction to about 30. Longterm price target is $130
FUBO uptrending in tandem with Euro Cup?Euro Cup is steaming ahead despite the pandemic, so is FUBO's price.
Last Friday (25 June) attracted a spike in volume, almost twice the average volume. The price was attempting to break out of $35. In the hourly chart, the price was holding above $34 nicely. If above to keep up the momentum and stay above $35, the next target is likely $43 then $52.
The nearest support would be $27 or $24.
Will FUBO price able to keep up until Euro Cup Final on 11 July?
FUBO to 40?As we see here we have an amazing cup and handle setup for FUBO!
I tried making this play as clean and clear as possible so there was no hiccups about the price action involved...
My ideal entry would be a clean confirmed break of ~31 (38.2 fib) for a run back to 40+!
My game plan:
Take 7/30 35c on the confirmed break of 30.99
(I am buying time because I expect it to be choppy in weekly supply)
PT1: 34.14
PT2: 37.73 (entering gap)
PT3: 41.12
FUBO: Limited upside left for short term, but long term 100+Elliot Wave Analysis of Fubo. Looks like we are finishing up a larger degree Wave 1 off of the May lows. Should top out around the 40-42 region and be succeeded by a Wave 2 that will draw Fubo back to the low 30s. However, then we will enter a larger degree wave 3 that should take Fubo to $100+