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Fitbit Inc: A Short Squeeze Candidate

By António CostaStock MarketsSep 17, 2016 06:53AM ET
www.investing.com/analysis/fitbit-inc-(nyse:fit)---a-short-squeeze-candidate-200154048
Fitbit Inc: A Short Squeeze Candidate
By António Costa   |  Sep 17, 2016 06:53AM ET
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Fitbit Inc (NYSE:FIT) An intraday close above horizontal resistance $16 would bring expectations of a spike higher towards $18 followed by $18.85 (April highs). From a technical standpoint, indicators are looking bullish. MACD crossed back above signal line and is moving up in positive territory. AD is also rising and RSI has moved above its 60% level. The stock is a short squeeze candidate, with a short float at 38% equivalent to 7 days of average volume.

Fitbit Daily Chart
Fitbit Daily Chart

Fitbit Inc: A Short Squeeze Candidate
 

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Fitbit Inc: A Short Squeeze Candidate

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