kmortimer2

PRTY - Potential Bottom Swing Play

Long
NYSE:PRTY   Party City Holdco Inc
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.