Fitbit $FIT has been in limbo with price essentially trading sideways in the past couple of years after after being crushed in the years before. At one point in 2015, shares traded at $52. Since 2017, price has been below $7.50 and above $4.50. This could end up being a price bottom, or a period of accumulation. Fitbit Weekly Chart(click to enlarge)Accumulation:- Accumulation is essentially another word for a possible price bottom. This is how I would assess the price action since 2017. - Price and the RSI describe a market that is no longer bearish. - Take a look at the daily chart below.- Note that price has respected resistance at $6.35 since August 2018, but broke above it in February 2019.- We also saw price fall back to test $6.35 as support, and it held. - This breakout/pullback/bounce-off-resistance-as-support dynamic is a bullish one. - We should anticipate another test of the $7.50 resistance. - With the accumulation period getting longer and longer, I think this $7.50 resistance will become less and less reliable. - I think if the general market maintains the level of risk appetite seen in January and February so far, we can see FIT push above towards the $10 mark. FIT Daily Chart(click to enlarge)