FITBIT INC CLASS A (NYSE: FIT). How to Trade FitBit for 40% Gain (Member Exclusive) $FIT #swingtrading #daytrading #chart

Share this:How to Trade the FitBit (FIT) Stock Move $FIT.  Trading Plan in this Edition Includes; FitBit the Company,

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How to Trade the FitBit (FIT) Stock Move $FIT. 

Trading Plan in this Edition Includes; FitBit the Company, Fundamental / News Trade Set-up, Technical Trade Set-up – FitBit Charting, Simple Algorithmic Chart Structure (model) with Price targets, Fibonacci support and resistance, trading quadrants (diagonal Fibonacci trend-lines).

Welcome to a member and mailing list exclusive trading set-up I see having a significant possible return. 

FitBit the Company:

The company website can be found here https://www.fitbit.com/home.

The Wikipedia page for those unaware of FitBit the company is here https://en.wikipedia.org/wiki/Fitbit.

Fitbit is an American company headquartered in San Francisco, California, known for its products of the same name, which are activity trackers, wireless-enabled wearable technology devices that measure … Wikipedia
Headquarters: San Francisco, California, United States
Founded: 2007, San Francisco, California, United States
CEO: James Park
CFO: William Zerella
Chief marketing officer: Tim Rosa
Founders: James Park, Eric Friedman

Fundamental Trading Set-Up (historical trade, news, sentiment):

FIT has been trading in a bottom pattern since earnings Feb 26, 2018.

Sentiment has been awful in recent months with articles like this one; Fitbit Earnings: The Spiral Continues
Can the beleaguered wearables maker pull out of this nosedive? Leo Sun (TMFSunLion) May 6, 2018 at 2:11PM where the author discusses paragraph topic headings such as…

Looking for flickers of life

Plenty of headwinds

So will Fitbit head to zero?

Fitbit is not on our top “Buy” list, but these 10 stocks are

Today news of their recent order shipments was released (Versa watch sales biggest on record) sending the stock soaring intra-day.

Fitbit stock gains after company says Versa watch is its ‘fastest selling’ product in history with more than a million devices shipped

Published: June 4, 2018 9:26 a.m. ET

https://www.marketwatch.com/story/fitbit-stock-gains-after-company-says-versa-watch-is-its-fastest-selling-product-in-history-with-more-than-a-million-devices-shipped-2018-06-04?mod=mw_share_twitter

FIT Technical Trade Set-up (the chart):

As noted above, FIT has been trading in a bottoming pattern for months (since early 2018). Below is the FIT chart structure static image and link to the real-time chart.

FITBIT (FIT) Chart. Over 5.87 targets 6.16 6.22 6.67 PT June 28. Closed 5.86 bullish on news. $FIT #chart #swingtrading #daytrading

https://www.tradingview.com/chart/FIT/1NNdYQxO-FITBIT-FIT-Chart-Over-5-87-targets-6-16-6-22-6-67-PT-June-28/

FITBIT, FIT, Chart, daytrading, swingtrading

FITBIT (FIT) Chart. Over 5.87 targets 6.16 6.22 6.67 PT June 28. Closed 5.86 bullish on news. $FIT #chart #swingtrading #daytrading

How to Trade FIT:

As noted above, FitBit closed the day 5.86 just over a Fibonacci support at 5.87 (green horizontal).

The good news is that over 5.87 then targets 6.16 then 6.22 then the June 28, 2018 price-target of 6.67 PT June 28 (red circle).

The downside is that there is a Fibonacci diagonal trend-line (blue dotted line on charting) right over-head. If trade stays under that you can consider that significant resistance. If trade gets over that trend-line then you can consider it support to the price target mentioned for on or about June 28.

If upside trade occurs and the price target of 6.67 is reached before June 28 then be sure to significantly trim longs in to that target price. If trade gets over that important resistance / price target then add above and continue trend as there is a POSSIBLE BULLISH PRICE TARGET ON JUNE 28 of 7.73 (possible, not probable – but possible).

In a bearish scenario the first and most probable price target is 5.60 on June 28 – but this scenario relative to trade strength on today’s news is unlikely. In a complete wash-out the June 28 most bearish scenario (price target) is 4.55.

How to Swing Trade FIT – Chart Buy / Sell Triggers:

The white arrow on our charting point to the main chart buy / sell triggers. The ideal way to swing trade our trading set-ups is to trade from arrow to arrow.

In this instance, the lower support where a trader would ideally like to enter long is at 5.62 and FIT closed the day at 5.86. Nevertheless you can time entry with intra-day trade based on the Fibonacci support and resistance lines (and more). If you need assistance in timing your trades I highly encourage a few hours of private trade coaching at some point.

Anyway, the swing trading set-up is to enter as close to the support at 5.62 in anticipation of the price target at 6.67 for June 28. More active traders will trim in to each resistance and add above or alternatively add on any pullbacks to Fibonacci support lines as trade develops on the chart.

In a perfect scenario shorts panic and a really bullish scenario plays out and your swing trade nets you a fantastic return when the most bullish swing trade scenario target hits June 28 at 7.73.

I will re-iterate that a few hours of trade coaching or study on exactly how to trim in to resistance and how to add to your positions on winners and how to cut losses properly and quickly will return huge dividends.

Also, you can subscribe to our Weekly Swing Trading Newsletter service here, use temporary Promo Code “30P” for 30% off Reg 119.00 Sale Price 83.30.

Or click here to subscribe and get 30% off Real-Time Swing Trading Alerts Reg 99.00 Sale Price 69.37 use temporary Promo Code “Deal30” for 30% off.

I personally guarantee our swing trading service is one of the best in the business and it’s very reasonably priced considering the technical expertise invested in the platform.

Any questions feel welcome to contact me anytime.

Best with this trade!

Peace and best.

Curt

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Article Topic; FITBIT (FIT) CHART. How to Trade FitBit for 40 Percent Gain (Member Exclusive) $FIT #swingtrading #daytrading

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