$FIT daily chart is becoming more bullish as the price reached a new high last Thursday May 4th. On Friday the price pulled back with an expected bottom around Wednesday May 10th with a close at or above $6.12. In the mean time I am expecting the $5.86 gap to be closed on Monday May 8th. It is very important that the price closes above the line highlighted in yellow in the next few days. If the price closes below it we will probably see a pull back to the line highlighted in red which should constitute a strong support level. After the pullback (phase 1) we should see the price climbing back up with a $6.80 price target at close of Thursday May 11th session.
In the weekly time frame the price has broke out above the channel’s upper line (highlighted in green). If the trend continues up we should see the week of May 8th close at or above $6.41 if the bears succeed to pull it down we will probably see a retest of the line highlighted in red within the next two weeks with a close price at or above $5.60 on Friday May 19th.
The monthly chart is showing the price targets for end of May, June and August.
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