FUBO - Don't chase, patience...
Similar to the SNDL chart I posted yesterday, FUBO is cooling off and returning back to a more reasonable buying zone.
Despite Twitter being bullish at current price levels, I believe a more ideal risk/reward long trade is a bit further down.
Technical reasons for the trade:
→ Price has exploded on high volume . This means more eyes are on this stock, with people who missed the first move wanting in on the action
→ Very little volume traded overhead. When this breaks the old highs, it will fly. Extra rocket fuel with the current short float of 39% (!!!) according to finviz
→ Price retracing back into the RLZ. Ideal buy entry at the 0.618 fib level
Good luck!
Hit the LIKE button if you find my analysis valuable and want to support my channel. Follow to make sure you don't miss any future trade ideas.
Despite Twitter being bullish at current price levels, I believe a more ideal risk/reward long trade is a bit further down.
Technical reasons for the trade:
→ Price has exploded on high volume . This means more eyes are on this stock, with people who missed the first move wanting in on the action
→ Very little volume traded overhead. When this breaks the old highs, it will fly. Extra rocket fuel with the current short float of 39% (!!!) according to finviz
→ Price retracing back into the RLZ. Ideal buy entry at the 0.618 fib level
Good luck!
Hit the LIKE button if you find my analysis valuable and want to support my channel. Follow to make sure you don't miss any future trade ideas.
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