Canada Goose Holdings Inc. Subordinate Voting SharesNYSE
Description
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Correction to continue towards sub 32. If the May 'weekly' candle low of 31.67 is broken, the stock will continue towards 26.
Comment
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(small mistake in chart "33.67 candle low" = *31.67)
Trade closed: target reached
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Comment
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UPDATE: GOOS has two options coming up. Either consolidating and quickly breaking the 20MA on the weekly (bull sign), or break the lower main trend-line and moving lower. GOOS is currently below the VWAP 'Decade' line which is bearish and could eventually send it lower. Getting above said level would send the stock to 50 and higher.
Comment
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GOOS is set to jump on ER, downside a little more favorable now with a broken lower trend line and new low (to prior low). Could also jump above 40 in one go. Good setup for a 1:1 or 2:1 straddle or a strangle.
Thoughts on today's action? Short covering maybe? Bounced around 32.4-32.5
Wanted to buy some longer dated calls but missed my entry, hoping for a chance later this week.
UnknownUnicorn5323213
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Well, you could wait until the stock is above X1 and X2 to reduce risk substantially @sumtinwong, as long as the stock is above the previous low of 31.67 you're good, as seen below. Only issue is on the 'weekly', which shows the latest weekly candle closing below the lower trend-line. I suggest waiting to see what the stock does next.
trvsmrgn
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good call and chart. I plan to go long around 32-30
UnknownUnicorn5323213
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thank you @trvsmrgn, actually just planned to update it yesterday
mralexsell
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@darksideofthemoon, nice one , it's actually looks good go long yesterday imo .Love the clean looks on the chart ..what makes it look this good ? Cheers !
UnknownUnicorn5323213
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@mralexsell, still needs a second leg on the lower trend-line to confirm. once over the upper trend-line (x2) = bullish :)
Wanted to buy some longer dated calls but missed my entry, hoping for a chance later this week.