- FuboTV Inc. announced its quarterly consensus on 4 August 2023.
- FUBO stock price has been on an uptrend trajectory.
- FuboTV Inc (NYSE: FUBO) stock closed at $3.06, gaining 13.75% in the last 24 hours.
FuboTV, a TV streaming platform, experienced a notable 13.75% surge during the recent intraday session. This surge was prompted by the ongoing conflict between Disney and Charter Communications. Disney is exploring the possibility of transitioning its Spectrum cable subscribers to alternative platforms like Hulu + Live TV to access Disney content. Notably, Disney’s networks and stations were previously accessible on various streaming services, including DirecTV Stream, YouTube, Sling, and FuboTV. This development highlights the competitive dynamics within the streaming and cable television industry.
FuboTB Inc. (NYSE: FUBO) stock price has been rising with an uptrend trajectory from the psychological level of $1. The bullish sentiment had increased after lingering in a consolidation zone between $1.31 and $1.03. Consequently, a continuous formation of higher highs and higher lows elevated the FUBO stock price with a 280% hike.
Moreover, FUBO stock price secured itself at the $3.20 resistance level by the end of July because of the uptrend momentum. Furthermore, the release of FuboTV’s second-quarter financial report uplifted the stock price towards the annual high of $3.87 on 4 August 2023.
Q2-2023 Consensus of Fubotv Inc.
FuboTV Inc. announced its 2nd quarter financial report on 4 August 2023, revealing an impressive performance. The earnings and revenue surpassed the estimated figures, encouraging the buyers, and the price action surged vigorously.
The Q2-2023 consensus data shows a reported revenue of $312.74 Million, which outperformed the estimated revenue by 3.47% as the estimated revenue was $302.26. Moreover, the reported -$0.17 EPS surpassed the estimated EPS of -$0.30.
FuboTV Inc. (FUBO) stock price is trading above the 20, 50, 100, and 200-day EMAs, reflecting an uptrend trajectory in the market while the price is in the overbought region.
The Chaikin Money Flow (CMF) score is above the 0.00 mark with a score of 0.20, denoting strength, and the price stays firmly in the overbought zone.
The RSI scored 62.97 during the intraday session, indicating bullish dominance and strength in the market. The market capitalization of FuboTV Inc. is $848.49 Million, with an average volume of 16.75 Million shares.
Conclusion
FuboTV has shown significant growth after the price touched $1. The stock price has surged roughly 201% since the start of May, forming a yearly high of $3.87. However, the price entered a corrective phase and melted to form support near $2. If the bullish momentum prevails, FUBO stock may retest the yearly high and rise above it.
2023 has been a good year for FuboTV, and the stock price has witnessed a rise of 72.88% (year to date). FUBO stock price might touch $5 if the bullish momentum continues to grow.
Technical Levels
Major resistance: $3.87 and $3.26
Major support: $0.96 and $1.03
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
