How Fitbit Is Trading Compared to Its Moving Averages in October 2017

Since the beginning of 2017, Fitbit (FIT) stock has fallen more than 16.0% after falling ~76.0% in 2016. The stock has generated returns of -7.6% in the past five trading days. In the trailing 12-month period, Fitbit stock has fallen more than 56%. In the past one-month period, it has fallen 2.4%.

Among Fitbit’s technology (QQQ) peers, Apple (AAPL), Fossil (FOSL), and Garmin (GRMN) have generated returns of 33.0%, -68.0%, and 15.0%, respectively, in the trailing-12-month period.

On October 20, 2017, Fitbit closed the trading day at $6.12. Based on that price, the stock’s moving averages are as follows:

• 5.5% above its 100-day moving average of $5.80
• 1.4% below its 50-day moving average of $6.20
• 6.9% below its 20-day moving average of $6.58

Of the 16 analysts tracking Fitbit (FIT), four gave the stock a “buy” recommendation, and ten recommended a “hold.” There were two “sell” recommendations on the stock.

The analysts’ price target for Fitbit stock is $6.81 with a median target estimate of $6.00. Fitbit is trading at a premium of 2.0% to the median analyst estimate.

Fitbit’s 14-day MACD (moving average convergence divergence) is 0.08. A stock’s MACD is the difference between its short-term and long-term moving averages. Because Fitbit’s MACD is positive, it indicates an upward trading pattern.

Fitbit also has a 14-day RSI (relative strength index) score of 21, which shows that the stock is trading in oversold territory. If an RSI is above 70, it indicates that a stock has been overbought, while an RSI figure below 30 suggests that a stock has been oversold.