Ahead of earnings, SFIX got an upgrade from the analytics firm Stifel, which cited SFIX's history of strong earnings and its attractive valuation. That appears to have driven a breakout above the stock's downward trend line today. Trend line breaks are usually bullish, and can lead to big gains like the PG&E trend line break I identified the other day. Others are slower gainers, like my LFVN trend line play.
SFIX has recently made an inverted cup, and could now make a handle. Sell any breach of SFIX's new upward trendline.
SFIX has recently made an inverted cup, and could now make a handle. Sell any breach of SFIX's new upward trendline.
Comment:
I sold at the exact peak of SFIX's jump to 28.10 today. I feel pretty good, since SFIX promptly pulled way back. It's at a volume support now, and testing the trend line. Keep stops in place below the trend line on the hourly chart.
Comment:
Trend line broke, but not on volume. Outlook neutral until test of 200 EMA is complete.
Comment:
Descending wedge pattern. Divergences are bearish.
Comment:
SFIX has been working on breaking out of the wedge today, and it just got there, although not with strong volume.
Comment:
Trendline break didn't hold, and we closed below the line. There's still some moving average support, so hard to say what the stock will do Monday.
