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In this video we take a look at the technical analysis of FUBO, and how much potential upside remains in the short term for swing traders.
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What is up, everybody welcome to trace trades, where we do a technical analysis on different stocks in the stock market, as well as give a buy, hold or sell opinion on the given stock. I have to preface by saying that i am not a financial advisor nor expert. I am just some random dude on youtube, so take what i say with a great assault, but with that being said, let's take a look at fubo fubo incorporated now. This morning i was browsing through today's volume movers i like looking for the abnormal volume in the market, because i think that's typically where money is going and fubo popped up on my radar.

I also saw it on stock twits yesterday did not pay it much attention but holy crap. This thing has been getting some momentum and you might not be seeing the end of it quite yet now what is fubo fubo is an online streaming company, and these seem to be to me basically, the next ev place, that is, the the streaming services are getting. So much hype right now. There are some analysts that are saying that fubo is like netflix from 10 years ago.

So take that for what it is, it could mean that this company, 10 years from now, could be worth a lot more than it is personally. I think that's a bit of a stretch i feel like netflix is always going to dominate the streaming services, but you never know there's no way of predicting. So where do i see this going? Well, let's take a look at some analysis on fubo. I've got the 30-day chart pulled up here and if you look back on the 24th, it hit a high of 24.90 and ever since then you know it kind of flirted with this resistance line, but it always came back down flirted with it came back down huge Spike, this is what i would consider a false breakout came back down look here.

This is a real breakout guys. This is huge, we're above the volume moving average the vma the bulls had complete control over this stock, the last two days, and i think they still are going to have complete control of it further down the road. Now there is some catalyst that push this stock up even higher yesterday, and it is a new price target for this stock analysts have given this a 50 upside which is massive. They uh that that's definitely brought in some abnormal volume to the stock.

You can see here in a 30 minute window that we've got 5 million, 300 000 shares that were sold or bought. That is huge compared to their normal numbers. You know 307 thousand 159, 000 in the highs here, one and a half million. This is a significant spike and, to be honest with you, i think there's a little bit of fomo that you're gon na see go on with this stock and fomo.

Isn't all bad fomo can be good? There are people, that'll get burned with fomo, but there are people that can take advantage of fall mode too. So if a stock is being bought purely out of emotions, which is how most short-term investors are going to invest, their money is out of emotions, you can capitalize on that. That is a perfect opportunity for a day or swing trade deal. Personally, if i was to get into this stock, what i would do is take a look at the patterns here when this stock opens.

So typically, what are you seeing out of this company when the stock opens? Well, you see a slight dip here. You see a dramatic limit order, sell-off here, followed by a rebound. You see a slight limit order here, see a big increase here and keep in mind. This is wednesday.

This is when the news came out, um saying that fubal has 50 upside. You see that same thing again here pretty dramatic, climb right off the bat, which is a little bit surprising um, because that means the hype is still here, however, be a little bit weary, because eventually you are going to run out of catalyst um, you know how The old saying goes, buy the hype, sell the news and eventually the news is going to dry up. So this is, i think, a little bit riskier of a play, but i do think there is potential. You just need to really pay attention to how this play reacts when market opens.

So i think this prior resistance level you can see this is where the stock sort of broke out um. This could act as a new level of support at very worst, but i do not think you're going to see it drop all the way back down to 3106.. That's a pretty significant drop in price. That's i i'm not great at math, but i think that's about 20 percent - maybe a little bit less, but i think you might see it at 3106 at the very worst or you could see it come down to this level.

35.87. Maybe a hair lower. If you want to get a couple more candlestick, wicks in here, 35 50., i think this is a very safe assumption to say that you know you might see a drop beyond this, but i'd be very surprised if it does so. This could be a good entry point if you want to get into this stock.

So if you were holding the stock, what should you do? Well, personally, i think i would set a five percent stop loss on my profits at this point, let's say that you entered at uh the base here at 28.83 and you're sitting at 36.77. You've already almost returned ten dollars per share. That's a phenomenal win! If you ask me, that's uh, that's a 30 30 percent gain in two days and most traders, mistakes with trading is that they get greedy, we're not gambling guys. This is a business, and while you don't want to cut your your chances of more upside, which is why we're not selling we're setting a stop loss, you also don't want to get greedy and lose all the profits that you made just because you wanted a little Bit more, you know, you're always going to make more in the long run, getting the first base or second base, then swinging for a home run in a couple of days, if you're not in the stock.

What should you do? I think you do have potential to get into this stock if you are not already. However, you do need to be careful, because we've seen two days in a row of abnormal volume and the market is always changing. If this volume drops that's something to pay attention to you're, going to see a lot less volatility in your stock and you might get stuck holding the bag, so volume pushes volatility. Let's take a look at how many shares outstanding.

We have with fumo uh, oh umo. What am i doing? Let's move guys booboo, so here we are shares. Let's try something else. I know a good one binvis there we go sorry for wasting you guys time.

Anyways cheers outstanding. We are looking at 67.56 million. So if there's 66 67 million shares that this company owns and in a 30 minute window, you're selling or buying 5 million 300 000 - that is a very large percentage of the shares. That's nearly 10 of the shares and if, if you are going to hold 10 of the shares that is going to increase the demand, you are inevitably going to be stopping somebody else from getting those shares.

So they're going to be willing to pay more to get them, so that explains volatility. And if you lose this volume, you lose the volatility. So you really do need to pay attention. If you have a program like fidelity pro weeble, you know ameritrade something where you can get real-time analytics on volume.

I think that's something that you're really going to want to pay attention to here. Otherwise, that is all i have on fubo today. Thank you for coming to the channel. I appreciate the love.

If you liked the video, then please like the video. If you didn't dislike it too, i don't really give a crap man all helps the youtube algorithm. I have a goal of getting to 50 subscribers by the end of the week, we're currently at seven. So if we can get seven a day uh, we just need one extra joe to to be an awesome guy and help us out here, guy or gal.

Thank you very much and i'll be seeing you guys next time. Peace.

By Trey

2 thoughts on “Fubo stock // $40 next? // buy the hype, sell the news”
  1. Avataaar/Circle Created with python_avatars HotRod G says:

    WHAT is up with ur voice?

  2. Avataaar/Circle Created with python_avatars Trey's Trades says:

    This stock is gonna buy me a lot of baconator's from Wendy's

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