Getting fit with FIT
Where exactly is $NYSE:FIT headed to?
After a showing signs of a bullish gartley chart, all $NYSE:FIT needed was a really great earnings report to piggy back off a great bullish gartley formation. Trading movements can be somewhat predictable with TA but remember that dramatic movements require real FA.
Looking at the daily chart, we see the pre-ER hype + technical bound rising out of the descending wedge to a breakout attempt, only to be squashed down by what some would classify as a dissappointing ER. $NYSE:FIT attempt at a breakout became a mess and even hit a new ATL.
So, is it all over for $NYSE:FIT?
Maybe not.
There's a few interesting things that happened on the day of the post-ER.
In combination, I would translate this action as accumulation movement.
Short term wise, this analysis would make sense given the price action for the past few days since hitting ATL.
Long term wise, $NYSE:FIT is at the mercy of proper FA before TA can support any massive movements - til then bears are in control.
After a showing signs of a bullish gartley chart, all $NYSE:FIT needed was a really great earnings report to piggy back off a great bullish gartley formation. Trading movements can be somewhat predictable with TA but remember that dramatic movements require real FA.
Looking at the daily chart, we see the pre-ER hype + technical bound rising out of the descending wedge to a breakout attempt, only to be squashed down by what some would classify as a dissappointing ER. $NYSE:FIT attempt at a breakout became a mess and even hit a new ATL.
So, is it all over for $NYSE:FIT?
Maybe not.
There's a few interesting things that happened on the day of the post-ER.
- Gap drop
- Doji formation
- Volume ticker that exploded into the green, to a level we haven't seen since August 2016
In combination, I would translate this action as accumulation movement.
Short term wise, this analysis would make sense given the price action for the past few days since hitting ATL.
Long term wise, $NYSE:FIT is at the mercy of proper FA before TA can support any massive movements - til then bears are in control.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.