Fundamental view: I use this company personally. My girlfriend introduced me to the company when she signed up for their services. It's a great idea, they basically send your pet a customized goodie box every month. Pet industry sales surpassed 100 billion for the first time this year.
This company IPO'd a year ago roughly, I know a lot about early stage investing. My mentor makes his living on pre presale rounds. Basically my theory is that early stage investors dumped their shares on the public when the company was offered giving us this consistent downtrend since its inception.
Quarterly: We made it almost to $20.00 before selling off to 4.00, a 5x discount from its first quarter highs.
Monthly: I drew a trend line off the first highs available simply to highlight that the supply line has been tested multiple times already, how much more before it breaks and holds?
Weekly: The market is consolidating well below the range, in newly formed trends these "free bars" are indicative of trend strength, but in mature trends they're more indicative of a parabolic/ oversold condition.
Daily: The market was oversold relative to its most recent demand line on this timeframe. Also, the market tested $4.00 on 3 different days recently and found demand in the short term with no closes below that level. Nice even number, third times a charm.
On investments of this nature I typically aim for the IPO price, so $13.00, not a bad return.
Thanks for reading, hit the like button!
This company IPO'd a year ago roughly, I know a lot about early stage investing. My mentor makes his living on pre presale rounds. Basically my theory is that early stage investors dumped their shares on the public when the company was offered giving us this consistent downtrend since its inception.
Quarterly: We made it almost to $20.00 before selling off to 4.00, a 5x discount from its first quarter highs.
Monthly: I drew a trend line off the first highs available simply to highlight that the supply line has been tested multiple times already, how much more before it breaks and holds?
Weekly: The market is consolidating well below the range, in newly formed trends these "free bars" are indicative of trend strength, but in mature trends they're more indicative of a parabolic/ oversold condition.
Daily: The market was oversold relative to its most recent demand line on this timeframe. Also, the market tested $4.00 on 3 different days recently and found demand in the short term with no closes below that level. Nice even number, third times a charm.
On investments of this nature I typically aim for the IPO price, so $13.00, not a bad return.
Thanks for reading, hit the like button!