Fitbit Stock Has Been Volatile This Year

Fitbit stock is up over 11% in 2019

Shares of consumer tech company Fitbit (FIT) are up over 11% so far in 2019. From the start of this year to February 27, 2019, the stock rose 28%. It then fell 14% on February 28 after the company announced its fourth-quarter earnings results.

Peer companies in the consumer tech space Garmin (GRMN), GoPro (GPRO), and Fossil (FOSL) have generated returns of 41%, 55%, and -13.5%, respectively, since the start of this year.

Fitbit Stock Has Been Volatile This Year

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Does Fitbit stock have more upside potential?

Of the 15 analysts covering Fitbit, three have recommended “buys,” ten have recommended “holds,” and two have recommended “sells” on its stock. Analysts have a 12-month average price target of $6.36 on the stock, which indicates a potential upside of 6.5% from its current price of $5.97.

What do the technical indicators say?

On April 8, Fitbit closed the trading day at $5.97. Based on that price, the stock was trading as follows:

  • 3.3% above its 100-day moving average of $5.78
  • 2.8% below its 50-day moving average of $6.14
  • 1.9% above its 20-day moving average of $5.90

MACD and RSI

Fitbit’s 14-day MACD (moving average convergence divergence) is 0.07. A stock’s MACD marks the difference between its short-term and long-term moving averages. Fitbit’s positive MACD score indicates an upward trading trend.

Fitbit has a 14-day RSI (relative strength index) score of 50, which shows that its stock is trading right in between oversold and overbought territory. An RSI score of above 70 indicates that a stock is overbought, while an RSI score of below 30 indicates that a stock is oversold.