PRTY - Potential Bottom Swing Play

Party City is in no way sheltered from the current state of things. Most stores are probably shut down, but with all the increased buying I believe we have hit a bottom and can break up to an upper channel off its most recent move.
I do not have any shares of PRTY but will be looking on monday to buy in the area of 0.58-0.61 if I get the chance. First price target is 1.18 and depending on how strong the move is, I may ride some up to 1.66.

This is only a swing idea, I am not necessarily bullish on PRTY , but I do believe in the swing potential setup here.
Comment: Price Target 1 hit today, sold 50% of holdings to regain all my cost basis.

Currently holding all profits for the long haul.

GREAT SWING PLAY congrats to anyone who followed me here.


Hey - I bought in at 0.64, holding long for earnings and post-crisis booms. I originally predicted it would go above 2.50 and while I haven't found much support online for this idea, the current rally to 1.80 is happening with very little stimulus. You mentioned 1.66 in your original post as a high-end price target but we're now well past that. Any thoughts?
The company is quite healthy financially, no? Good Market Cap, good volume on Shares Outstanding, High Debt-to-Equity ratio.
kmortimer2 julianginzo
@julianginzo, Honestly the financials are GOOD not GREAT, but we are in the prime season for Party City. And with the economy opening up and people starting to see each other again. This has a great potential over the next few months as well. Watch for consolidation before next big leg up.
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