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$FIT Continues To Be On Major Breakout Watch

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of Fitbit Inc (NYSE:FIT) are no longer dropping. They have not made a new 52 week low in weeks and the rate of decline is almost zero in the last four months. This has the makings of a major breakout. The breakout will occur when Fitbit Inc punctures the down-sloping trend line seen on the chart below. Once that happens, the stock should see massive short covering that takes it as high as $9.75. I am keeping this on high alert this week. Every investor should be on point with Fitbit Inc because it would be a more than 50% profit if it plays out.

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Stock chart of Fitbit Inc on watch for breakout trade alert


This article was written by Tony Jackson for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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