2use
Long

TFM - looking for an entry point on great discount

NASDAQ:TFM   FRESH MKT INC
121 5 2
: Mistake in the text on the chart, should be Looking for a "higher high and Higher low"
; It also has 2 gaps to fill, small but worthy point to take in account

Seeing TimWest's idea on the stock price today, felt to find a good entry point for the stock on the short term, while focusing on the long term prospects. On the weekly it does seem that at any point it is a good entry now as it is 50% down from the recent high, but it may be going lower if it follows the apparent channel .

As Tim Notes: "Tim: "I generally like to see TFM             get "beaten up" and then I take another look at it and see if I can buy it in the bargain bin, where it is today, nearly 50% off of its highest levels in the last year."

Regarding the recent decline, Tim provided the following: "The decline from the highs is a function of it being horrifically overvalued by growth investors who were paying 2.5 times rational valuation levels based on monstrous growth. As growth estimates have been tempered and earnings have missed expectations, growth investors have rushed for the exits. This is the rotation we have seen in the market, out with growth and in with anything else (utilities, technology, semiconductors, oil             , oil             service, etc.) The profit margins have dropped and expectations are down. Note that sales have surged from 1B to 1.5%, or 50% in the past 3 years"

This does look like to be the case, but what bothers me is that the 2011 resistance at around 30 has been broken once already, even after one bounce. So for now a possible entry point would be at the low of the channel to at least stay within the channels trading, or on the breakout from the channel. So far we have seen a lower low, and would need a higher low to enter. At this point i see it will indeed be outside the channel if that is the case.

Note: MACD . RSI . Stoch , CCI are not good indicators on this one as the swings are too large while these indicators trade in their range
timwest PRO
2 years ago
Great job on commentary, technical levels and the action of indicators. This is exactly how we can all benefit by working together as a team analyzing ideas together.
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2use timwest
2 years ago
Indeed, having related ideas to others can make a great prediction in general and will show if people see the same picture all around. I just added that it has 2 gaps to fill, and through history, unless the trend is solid and serious, gaps tend to get filled.
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timwest PRO 2use
2 years ago
I banked my profit yesterday on TFM and I hope to keep a close eye for any new technical setups. This has been a tremendous rally on the heels of the insider purchase announced after our charts were published here at Tradingview. Let's take a look at other oversold and cheap stocks.
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2use timwest
2 years ago
Banking out profit, but not selling the all the assets you mean? I will keep an eye, but it may have just gotten out of the base. Although stocks are to be lower today so it may follow suit. I also got in on MPC and ABX, waiting on the changes there. It has a lot of room to go up, but it seems to be making the a-la Amazon legs down. Any chance you can check it from that perspective? It has been at this levels at 2010, i mean it can't be doing that bad - it has a gap to fill at 46 at least :)
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2use timwest
2 years ago
Did the channels resistance make you bank? i see it can have a run further to 35 -36. I know it is wise to take your profits, just wanted to know what was your dogma for it?
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