IYT shares broke the uptrend line from the March 2020 lows just a few weeks ago, with the ADX line falling off a cliff and confirming the move.
With the RSI below 50 and the stock trading below the 50sma it's not looking good short and intermediate term for the transports and therefor the rest of the market. Watch closely.
All indicators are bullish from here.
MJWL is a penny stock that went from a 100X advance to a big correction quickly. It may have finally found support at .08 where it had previous resistance/support, we also have the RSI down trend line was just broken, although it's still in bearish territory.
The downtrend line on the stock has still not been broken, all other indicators in bearish mode.
We could be in the early stages of a bounce off of support, but we have to wait and see if it's a long term trend change.
BTBT jumped 5X and has now pulled back the full 62% fibonacci retracement. We have a green candle today and the RSI bounced off of 50, so the question is, will this be the bottom before the next big up move?
AMC looks like it has finally bottomed. Between July 19 and August 5 it formed a bullish divergence with the RSI, warning of a bottom. The stock found support at $29 and bounced up with the 10 sma moving higher. Today the DI's have crossed into bullish zone, same with the RSI, all on good volume.
NSC stock just broke through the down trend line signalling the end to the intermediate correction, all indicators are go. Support for the stock is around $252.
From it's May bottom at $14.64 FUBO more than doubled to $35 before pulling back. This recent correction shows a Fibonacci retracement of about 50%, if this new bull continues the next target is $45 which would be almost a 50% advance. Today's close wasn't great so a minor pullback to fill the gap is possible. All indicators shown are bullish.
FUBO has 8 analysts covering the stock of which 6 have it rated as a "strong buy" with one year target ratings from $28-$60.
After Tuesdays close FuboTV Inc. (FUBO) came out with a quarterly loss of $0.38 per share
versus the Zacks Consensus Estimate of a loss of $0.54. This compares to
loss of $2.82 per share a year ago. These figures are adjusted for
non-recurring items. Is this a new trend for future earnings?
