I did a quick and dirty Fib retracement on
FUBO
using this year's low and didn't include the whole post IPO exuberance and ensuing hangover. Now even with this as the case, there are several important levels in the short term to watch. 382 Fib is likely one of them as it appears to be presenting a major pivot over the last few months as both support and resistance. With the market trying to recover, this is the first time in weeks that FUBO has established itself above this level and approaching the 286 level. With tech and streaming/esports/igaming picking up steam, it could be an interesting second half of the year.
'There are plenty of other outliers to keep track of right now especially considering the overall trend in tech. Despite being slightly down this week, overall, technology stocks have performed well this year. In fact, tech (based on the
XLK
ETF) is up over 17% since the beginning of 2021. Based on the growth outlook, some expect the sector to continue flourishing in light of a lower rate environment in the near term. Should that end up as the case, there could be plenty of tech penny stocks to watch heading into the second half of the year."
Quote Source & Read More: Top Tech Penny Stocks To Watch For August 2021
FUBO
using this year's low and didn't include the whole post IPO exuberance and ensuing hangover. Now even with this as the case, there are several important levels in the short term to watch. 382 Fib is likely one of them as it appears to be presenting a major pivot over the last few months as both support and resistance. With the market trying to recover, this is the first time in weeks that FUBO has established itself above this level and approaching the 286 level. With tech and streaming/esports/igaming picking up steam, it could be an interesting second half of the year. 'There are plenty of other outliers to keep track of right now especially considering the overall trend in tech. Despite being slightly down this week, overall, technology stocks have performed well this year. In fact, tech (based on the
XLK
ETF) is up over 17% since the beginning of 2021. Based on the growth outlook, some expect the sector to continue flourishing in light of a lower rate environment in the near term. Should that end up as the case, there could be plenty of tech penny stocks to watch heading into the second half of the year." Quote Source & Read More: Top Tech Penny Stocks To Watch For August 2021