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$FIT Continues Breakout After Bullish Consolidation

Fitbit Inc (NYSE:FIT) charged higher today, breaking out over another major trend line of resistance. Resistance levels are starting to fall like dominos and the shorts will start covering faster and faster. This breakout will take Fitbit Inc to a target of $7.20. Every other day the stock gets hammered with negative news, yet at this current valuation, smart investors and institutions understand it is undervalued. With a ton of cash on the balance sheet, this stock should continue to move easily higher in the coming days and weeks.

Investors buy stock chart breakout on shares of Fitbit Inc