FuboTV Inc (NYSE:FUBO) shares are rising on Wednesday as the broader market inches lower. Here’s what you need to know.
FuboTV stock is surging to new heights today. What’s behind FUBO gains?
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Fubo's Bounce Still Sits Under Heavy Technical Weight
Even with Wednesday's move, the broader trend remains down, and the distances to key moving averages make that clear. FUBO is still 5.8% below its 20-day SMA at $10.57 and 12.8% below its 50-day SMA at $11.42. The gaps widen dramatically when you look at the 100-day SMA at $16.67 and the 200-day SMA at $29.60.
