Fitbit Inc: A Short Squeeze Candidate
António Costa | Sep 17, 2016 06:53AM ET
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.
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