IamNomad
Long

$BONT - possible breakout study

NASDAQ:BONT   THE BON-TON STORES INC
74 2 1
DISCLAIMER - I DO NOT TRADE RETAIL STOCKS ON A REGULAR BASIS AND AND MAY NOT ACTUALLY TAKE THIS TRADE.
THIS IS MOSTLY TECHNICAL IN NATURE. IF $BONT DOES SOMETHING DUMB BETWEEN NOW AND EARNINGS , THIS ANALYSIS IS MEANINGLESS.

A friend as me to look at this retail stock since its basically been taking a beating like the rest of the Nasdaq the last quarter. Reversal trading is kind of my thing.


Bullish leaning:
- broke over down trend line from around 2014 .
- had a heavy earning reaction but corrected pretty hard.
- on the verge of breaking over the quarterly down trend line .
- dollar flow for 2016 so far has been pretty fair to ok. selling corresponds with index reaction.
- NQ/ND on recover path the last two weeks.
- bi weekly to monthly stoch rsi really low. room for a good move.


Legit Concerns:
- EPS             scare was 160% before Christmas. Investors dont like to get rekt by Consumer sector updates
- Nasdaq require a stock to hold 1.00 per share minimum to be listed.
- Didnt respond to recent Nasdaq increases as much as it should have.
- this may not be a long term hold. they hold a bunch of retail companies but all of them are slow to adopt online measures. ( i thought amazon taught everyone this lessons)

Wildcard:
- "Zacks Investment Research " declared a strong sell recently after an upturn. A quick googles shows a whole mess of wrong calls between AAPL             - GOOGL             etc etc.
im not sure how this will effect traders. But they dont appear to be "anyone worth knowing"

(note i posted about $BONT on my twitter about 2 weeks ago here https://twitter.com/IamNomad/status/698036328517210112. this is more to make things official.
this is still working. looks like it wants a dip before earning. investors.com has a sell bias on it as well
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snapshot


went sideways for 7 days. breakout occured
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