October 2, 2016

FIT (Fitbit Inc.) Enough?

After a downhill of almost a year for the stocks of Fitbit Inc. (FIT), known for making activity-tracking wearable devices, hit an all-time low of $11.65 last June. From there on, it just started moving sideways on which a trading range was established.

Based on my technical analysis, the stocks of this technology company could just most likely be hopping its way around within the range unless the resistance or support gets broken due to drastic changes in market sentiments or earnings reports. On the occasion the resistance gets breached, the next resistance could be $18.85 then the $20.00 psychological level. On the downside, if the range's support gets taken out, the next one could be the $10.00.

By the way, I recently posted my stock analysis on GoPro, kindly check it here. Cheers.

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