$FUBO BULLISH ENGULFING PATTERN ON THE DAILYFUBO recently retraced to the 38% fib level.
I'd like the price to close above the 50ma on the hourly with significant volume to confirm, but I have been in FUBO a while.
Possible cup and handle forming on the hourly
Revenue rose 71% in the third quarter, and growth accelerated to between 77% and 84% in the fourth quarter, based on preliminary results it announced earlier this month.
Lots of recent institutional buys
A lot of short interest so room to squeeze
Roku ($468 at writing) generates less than 1/3 as much per user in ad revenue
fuboTV's ad revenue is more than either Disney or Apple are ringing up in subscription revenue per user
Fubo has also acquired small sports betting companies including fantasy sports and a betting book by EOY
Caveats
"Rich Greenfield at LightShed Partners lowered his price target on the stock from $8 to $6.50, arguing that the platform operator will need to raise at least $1 billion in equity this year to bankroll its sports betting strategy." (motleyfool.com)
This is why Fubo is shorted so heavily
FUBO trade ideas
BUY $FUBO - 02.15.2021Stockonomy Weekly Pick 02.15.2021
$FUBO Price has been everywhere in the past few months trading on large volumes.
Price seems to have began a new uptrend on high accumulation volumes and lower consolidation volumes.
Price recently pulled back to the 38.2% Fibonacci Level with an oversold StochRSI reading.
Price may dip to 61.8% before continuing upward so watch price action closely.
$FUBO forming symmetrical triangleLooks like it's trading within the symmetrical triangle. Waiting for it to go further close to the bottom trendline, which may provide more favorable risk/reward ratio for longs. The company's real strength is its unique combination of live sports streaming and sporting betting. Sports wagering market is estimated to grow from $1B today to roughly $18B in 2025 according to market research.