After a showing signs of a chart, all FIT needed was a really great report to piggy back off a great formation. Trading movements can be somewhat predictable with TA but remember that dramatic movements require real FA.
Looking at the , we see the pre-ER hype + technical bound rising out of the descending to a breakout attempt, only to be squashed down by what some would classify as a dissappointing ER. FIT's attempt at a breakout became a mess and even hit a new ATL .
So, is it all over for FIT ?
There's a few interesting things that happened on the day of the post-ER.
- Gap drop
Short term wise, this analysis would make sense given the price action for the past few days since hitting ATL .
Long term wise, FIT is at the mercy of proper FA before TA can support any massive movements - til then bears are in control.