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Strategies & Market Trends : Underexposed Technical Analysis

AQN 6.490

-0.6%

Feb 6 9:30 AM EST

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From: Underexposed	3/26/2021 9:48:33 PM
	of 914

I thought I would do a stock in decline this time..... FuboTV Inc. [FUBO:NYSE] Here are two charts that I will comment on I have chopped the top off of the P&F chart as it really does not effect the current situation. This stock has been in steady decline since February and it is dropping by major chunks. Where is support? Well the first line of support is around $18.00 to $19.00. How strong that support is I don't know....Why? because the points that make up the support are 1-2 years old. The stock may just smash through that green box... The yellow box may be support somewhere in its confines but nothing really stands out for me....However, if the share price cruises through that ...well it would not be good. The large circle is around the column SMA's and as can be expected they are bearish and they are getting more bearish with time. The Trigger Chart show a resistance line in red. On the way down, the share price constantly bumped against this resistance....until now...As we can see we are now in the throat of a Bollie squeeze. I will talk about the tiny circles in a bit but the share price us now below the lower bollie...Look at the Slow Sto and the MACD...both have turned negative AND the BBWidth has a sharp upturn. This looks to me to be the start of sell sign. The small circles so what happens when the share price falls below the Lower Bollie. It is really similar to what happens to exceeding the upper bollie but in a negative manner. This is rarefied space...prices don't belong this low and within 6 days the price will pull back into the they bollie envelope. This is important and I will talk about this in subsequent posts. Conclusion This stock is probably destined for a much larger drop. UE

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