Will FUBO Stock RSI Retest the Trendline Toward $2.40?

FUBO stock price has been following a downward trend since the beginning of this year. But in year-to-date (YTD) price analysis it added 29.17% to its trading price. The bearish market showed a reversal trend during the second week of May 2023 which helped the Fubotv stock to regain momentum.

FUBO Stock Price Analysis

On August 25, 2023,Friday, Fubo stock price closed at $2.17, with a 4.33% price surge intraday. The opening price during the trading session was $2.07 whereas the trading range was $2.07 to $2.22.

Will FUBO Stock RSI Retest the Trendline Toward $2.40? — Source: FUBO stock price chart from TradingView

A major decline in trading price was seen on August 4 and August 7. Since August 18 Fubo stock seems to be consolidating in the range between $1.95 to $2.22.

Despite the decline over the year, FUBO stock price surged 10.15% in the weekly time frame and its prices uplifted approximately 35.63%. Fubotv share price has an annual price target of $3.60.

The RSI is below neutrality and the signal line is close to the curve. A bounce to retest the trendline toward $2.40 is expected. The MACD indicator suggested a bearish crossover showing mild negativity. Moreover, the signal line is close to the MA line indicating that buyers are trying retain the momentum.

According to TradingView, 281.042 Million FUBO shares are free floating and the remaining 11.524 Million shares are closely held by financial backers of the company or the board of directors.

Q2 2023 Result Update of FuboTV Inc.

FuboTV Inc. (NYSE: FUBO) is a sports-first, live TV streaming company. The market cap is around $634.908 Million. On August 04, 2023, the company net income of $320.26 Million in Q2 2023.

According to its Q2 2023 report, FuboTV earnings per share (EPS) is $0.17 whereas the estimated figure was negative $0.30 which accounts for a positive 43.66%. The revenue for the same period of FuboTV Inc. amounts to $302.26 Million while the estimated figure of $312.74 Million.

For the upcoming quarter, the estimated EPS is negative $0.32, and revenue is expected to reach $284.32 Million.

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