Getting fit with FIT

Where exactly is $NYSE:FIT headed to?

After a showing signs of a bullish gartley chart, all $NYSE:FIT needed was a really great earnings report to piggy back off a great bullish gartley formation. Trading movements can be somewhat predictable with TA but remember that dramatic movements require real FA.

Looking at the daily chart, we see the pre-ER hype + technical bound rising out of the descending wedge to a breakout attempt, only to be squashed down by what some would classify as a dissappointing ER. $NYSE:FIT attempt at a breakout became a mess and even hit a new ATL.

So, is it all over for $NYSE:FIT?

Maybe not.

There's a few interesting things that happened on the day of the post-ER.

• Gap drop
  

• Doji formation
  

• Volume ticker that exploded into the green, to a level we haven't seen since August 2016
  

In combination, I would translate this action as accumulation movement.
Short term wise, this analysis would make sense given the price action for the past few days since hitting ATL.
Long term wise, $NYSE:FIT is at the mercy of proper FA before TA can support any massive movements - til then bears are in control.