The overall technical picture for FitBit is still bearish, but we might be seeing some bottom-building in price action.FIT Daily Chart 7/4(click to enlarge)Still Bearish: - As we can see in the daily chart, price has been falling since it tagged 52 in 2015. - It is now hovering above 12. Possible Bottom:- Price just made a new low on the year last week at 11.65, but still looks like it is respecting the support we saw here in February, around 11.85. - The fact that the RSI has failed to tag 30 suggests that bearish momentum is dwindling.Key Resistance: - These are very early and premature signs that FITBIT is bottoming. I think we need to see a break above 14.80-14.85 area. - Above 14.80-14.85 FIT would have cleared 1) the 200-day simple moving average, 2) the May-June resistance, and 3) a falling speedline coming down from Sept. 2015. - A break above 14.85 could indeed open up the high on the year at 18.85, with the psychological level of 20 in sight as well.