Fit bit has completed an inverse head and shoulders with bullish volume, signaling the reverse of a long down trend, moving pass the 50 and 100 sma finally seeing resistance at the 200sma and pulling back to 7 dollars and holding with decent volume. 7 dollars has proven to be an important price in the pass.
It has been reported that FIT has sold 1 million versa watches in 7 weeks at an average of 200 dollars that amounts to 200million of revenue in 7 weeks, proving FIT is a real competitor in the wearable market. Google searches for the fitbit versa are on rise as well, but that is to be taken lightly.
Play: buy for a return to the 200 ma and a continuation of the rally to earnings on 8/1
It has been reported that FIT has sold 1 million versa watches in 7 weeks at an average of 200 dollars that amounts to 200million of revenue in 7 weeks, proving FIT is a real competitor in the wearable market. Google searches for the fitbit versa are on rise as well, but that is to be taken lightly.
Play: buy for a return to the 200 ma and a continuation of the rally to earnings on 8/1