Hello everyone, this is Barrie Einarson from Trade Ideas, and in today’s edition of “What Makes This Trade Great,” we will dissect one distinct trade that offered substantial value. While it could have been tempting to choose among the plethora of robust performances recently observed, I’ve narrowed it to one particular trade – Fubo. Feel free to explore my Home Page, where you can acquire Trade Ideas scanners at a discounted price of Use Promo Code OVERTHETARGET for 30% off

The All-time High SPY and Earnings Season

There are so many options to choose from considering the current market dynamics. The S&P 500 SPDR Trust (SPY) has consistently impressed with an incredible run over the past couple of days and numerous other stocks have also displayed significant earnings.

Among those making their mark are rising stars like Roku, DraftKings, and GoDaddy, which have been piquing interest with their enduring upward trend.

However, the spotlight of this post falls on an unexpected character, FuboTV. Here’s why.

FuboTV – A Roller Coaster Ride

FuboTV is not new to most, as it’s been through tumultuous times over the past one-and-a-half years. The digital entertainment company specializing in streaming saw a huge fall, and has recently started to regain its footing.

As a testament to its recent resurgence, Fubo had an impressive earnings report, which has triggered quite a reaction from the market.

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Fubo – The Rebound Story

On our platform, it popped up as an alert at $2.74 and has now hit $3.04, which signifies an almost 11% increase. Fascinatingly, the trade has maintained a steady course since its alert.

But that’s not all. We anticipate even more room for growth with Fubo. Briefly touching $3.18, a glimpse at its weekly chart reveals that if it overcomes $3.35 next week, the subsequent high is almost $4.

“`Fubo’ had earnings today, and obviously, the market has reacted very well, and it may not be over today. And if the market remains strong next week, you could see a lot of these ones that were just crushed over the last few months, they could come back a bit.”—Barrie Einarson

Predicting a Trade Renaissance

While it’s impossible to predict with absolute certainty, a strong market next week could set the scene for a significant resurgence for many stocks that have been battered in the last few months.

That’s our analysis for today’s episode of “What Makes This Trade Great.” We’re at the threshold of the start of the Trade Ideas Test Drive. Have a fantastic weekend, and if you’re undertaking the test drive, feel welcome to join the trading room Monday morning. Don’t hesitate to bring your queries along. We’re always here to help.

Until next time, happy trading!