Interactive Investor

Here's how shares in this Christmas favourite can jump

The company share price is proving to be encouraging, according to our analyst.

24th December 2019 08:52

Alistair Strang from Trends and Targets

The company share price is proving to be encouraging, according to our analyst.

FitBit (NYSE:FIT) 

This exercise malarkey is tiring. For instance, during December I've worked up, daily, to lifting two x 56-pound potato bags, holding them for two minutes at a time.

This week, the added strain of putting a potato in each bag has proven interesting.

Equally, there will be plenty of folk receiving fitness gadgets for Xmas, doubtless monitoring their progress with FitBit (NYSE:FIT) extended offerings.

The company share price is proving encouraging in a slovenly way. At present, the share is trading at $6.49, needing above just $6.65 and we shall regard it as heading to an initial rest stop at $7.66.

Only if exceeded does this become really interesting, due to the "almost" certainty of $9.35 awaiting in the longer term.
 
We've a slight worry at $6.40, this being the level the share presently needs to break below to spoil our wonderful set of calculations.

In fact, if we're honest, anyone considering a "blind" 'Long' just to see where the price goes could consider a stop loss at this level.

Below $6.40 allows reversal down to an initial 6 dollars with secondary, if broken, down at $5.

Visually, similar to this writer's attempt at weight loss, reversal seems unlikely. But the lethargic price movements, since the share kicked its way through the downtrend at the start of November, justify a slightly raised eyebrow.
 
Have an enjoyable break. We'll be back on Sunday evening, probably commenting on a futures market which has fallen asleep!

Source: Trends and Targets      Past performance is not a guide to future performance

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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