jaxdog

$BGFV Bull Flag (Pennant) Looking to break to ATHs

Long
NASDAQ:BGFV   Big 5 Sporting Goods Corporation
I missed the big break-out after earnings . But as you can see on this weekly chart it is now forming a bull flag or pennant (notice the big flag pole) depending on how you want to draw it. Regardless. When this broke out it busted thru a 17 year downtrend! Talk about change in character... I'm looking for this to maybe consolidate for a few more days and then break this shorter term downtrend where I will be looking to enter this trade. Big 5 reported earnings , beat and guided higher in early May. Ideas not investing / trading advice.

from earningswhispers.com

Big 5 Sporting Goods Sees Second Quarter Above Estimates

Big 5 Sporting ( BGFV ) reported 1st Quarter March 2021 earnings of $0.96 per share on revenue of $272.8 million. The consensus earnings estimate was $0.44 per share on revenue of $260.2 million. Revenue grew 25.3% on a year-over-year basis.

The company said it expects second quarter earnings of $1. 05 to $1.25 per share. The current consensus earnings estimate is $0.38 per share for the quarter ending June 30, 2021.

Big 5 Sporting Goods Corp is a sporting goods retailer. Products include athletic shoes, apparel & accessories, outdoor & athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, winter & summer recreation & roller sports.
Trade active: 6/2 opened a 1/2 position @ 33.35 Stop 5%. I'll be looking to add over $35 if risk can be defined.
Comment: 6/3 Took 1/3 profit at 36.55. Raised stop to $33.40. Now in a free trade with a very small profit. Will let remainder ride for as long as possible.
Trade closed: stop reached: 6/4 Looks like a failed break-out Closed at 33.14. Made a "very small" profit with first sale. I'll keep an eye on this but, for now it failed.