Shwayze

SMPL long - Goldman Sachs upgrades to Buy w/ conviction

Long
NASDAQ:SMPL   SIMPLY GOOD FOODS COMPANY
SMPL looks great on paper. P/E is over 70, market cap is over 2B. Beat earnings estimates 3/4 quarters in 2019, and also 1st quarter 2020.

Goldman Sachs just issued an upgrade, from Buy - to Buy with Conviction.

Technical analysis , this is hitting a long term Fib level of 50% for the 3rd time, possible triple bottom formation. Very strong support at this level.

Stop loss under $21.00 (-10%), Target will be just under $30.00 (+30%) for a long term trade, and $25.00 (+10%) for a shorter term trade, where the price may consolidate and form a base.

Daily Chart w/ Fib levels:

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