Earnings were fine and LOGI is on sale
LOGI has had a bumpy ride, zigzagging from overbought to oversold and back again.
LOGI has been in a solid uptrend, and despite tough comps from consumer investment to streaming and peripherals for COVID, LOGI is still meeting and beating EPS and revenue expectations.
RSI is low and MACD is weakening at the lows of the past year. Coupled with the 200 day SMA being kept, this looks like an attractive buy.
A tight stop is understandable for this trade, as a break of both the the trendline and 200 day SMA could lead to a continued drop to 99 or even 90.
However multiples have compressed significantly to a bit under 18, which is average to low for LOGI. I would bet these supports are held and we move higher.
As a long term investment, it looks good here.
I would love to hear feedback, and thanks for visiting.
LOGI has been in a solid uptrend, and despite tough comps from consumer investment to streaming and peripherals for COVID, LOGI is still meeting and beating EPS and revenue expectations.
RSI is low and MACD is weakening at the lows of the past year. Coupled with the 200 day SMA being kept, this looks like an attractive buy.
A tight stop is understandable for this trade, as a break of both the the trendline and 200 day SMA could lead to a continued drop to 99 or even 90.
However multiples have compressed significantly to a bit under 18, which is average to low for LOGI. I would bet these supports are held and we move higher.
As a long term investment, it looks good here.
I would love to hear feedback, and thanks for visiting.
Comment:
Wow, LOGI completely broke through the trendline and 200DMA without mercy. It has slumped since August. Notably, there has been GIANT buy volume on October 26 (4 million shares traded vs 500k - 1 million usual) so that could be a sign of reversal heading into earnings.