However, Wednesday’s stock price is under widespread pressure. For hot CPI measurements, Causes inflation concerns.
For FuboTV, it was up steadily on the day, but when the stock price rose 21%, it was well below the high.
The rally reversed after stock prices fell to 2021 lows on Tuesday, rising about 8% that day to close the deal.
When the wild moves are over, take a look at the Fubo TV charts.
Trading FuboTV shares
This may not be seen much on the daily chart above, but in fact, FuboTV’s share price has risen 32% from Tuesday’s lows. At today’s highs, market share has risen almost 50%.
It creates a bit of conflict for traders. As a trader, our top priority is risk management.
You may want to focus on the possible rewards for stocks that are still 70% below their highs, but you also need to protect the risk side.
Normally, in situations where a reversal occurs, we wait for FuboTV stocks to regain Monday’s lows ($ 16.28) and then use Tuesday’s lows of $ 14.64 as a stop loss. Stocks did just that, but earnings complicated the situation.
Its lowness (sometimes called a pivot) is the reference point. Under that, many bulls no longer want to be long. The risk is $ 1.64 per share and is easy to manage.
However, the situation is much more difficult now, as the risk for shares under $ 20 is about $ 5 per share. However, you can simply reduce the position size to allow for a wider risk range.
Anyway, we need to keep this week’s lows. Below that, the downside may continue.
On the positive side, let’s see if FuboTV can cost more than $ 20.40. This is above the 10-day and 21-day moving averages, but also above last week’s highs.
It gives us weekly rotations and opens the door to the $ 23 to $ 24 range. More than that, $ 26 is possible.
Trading FuboTV’s Wild Price Action After Earnings Source link Trading FuboTV’s Wild Price Action After Earnings