I am patiently watching the $7.50 level on Fitbit

I am patiently watching the $7.50 level on Fitbit Inc (NYSE:FIT) for a breakout. The stock is one of the few that remains near/at 52 week lows. It is inching up daily but will not cause a short squeeze until it cracks $7.50. Once that happens, it has the potential to jump to $10.00. The $7.50 level is a trend line break. Fitbit Inc remains one of the dominant players, if not the most dominant in the wearable fitness tracking industry. This industry continues to grow year over year. Fitbit Inc is undervalued at its current levels when compared to almost every other stock in every other industry/sector, especially when the market is at all-time highs.

Investors and traders eye stock chart break on Fitbit Inc