Bar reply of FUBO on 5m chart shows turning point
Each stock has a character/personality constituted by collected forces of how its participant's trading behaviors.
FUBO, as a recently trendy stock, has a personality of having a lot of short-term trading. For those people, they are trading based on a smaller time scale, such as 1m or 5m. This trend is unseeable or at least not apparent at a higher level if you are used to looking at 1h or 1d charts.
This bar reply uses the "Estimated MA" indicator and the "Turbulence with direction" indicator at the 5m level to show the uptrend turning point was, in fact, on Dec 23. And currently, until Jan 8, there is no bullish signal to enter this underlying.
I hope individual investors/traders can avoid losing money on this stock.
FUBO, as a recently trendy stock, has a personality of having a lot of short-term trading. For those people, they are trading based on a smaller time scale, such as 1m or 5m. This trend is unseeable or at least not apparent at a higher level if you are used to looking at 1h or 1d charts.
This bar reply uses the "Estimated MA" indicator and the "Turbulence with direction" indicator at the 5m level to show the uptrend turning point was, in fact, on Dec 23. And currently, until Jan 8, there is no bullish signal to enter this underlying.
I hope individual investors/traders can avoid losing money on this stock.
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