$UNFI is in a major strong support at 50-day MA
$UNFI current price as of this writing closed at 15.44
Technically, $UNFI bounced on a 50-day moving average at 14.68 and another support at 15.15.
If it breaks down from its 50-day MA, another strong support at 13.62. A good entry is somewhere near the support at 13.62, 14.68 and 15.15 in case of a strong selling pressure.
With its good fundamentals - value, growth and momentum, its price movement may move sideways or bounce to its 14 to 17 price range while waiting for its catalyst.
Note: This is not a financial advice. The author is long on $UNFI.
Technically, $UNFI bounced on a 50-day moving average at 14.68 and another support at 15.15.
If it breaks down from its 50-day MA, another strong support at 13.62. A good entry is somewhere near the support at 13.62, 14.68 and 15.15 in case of a strong selling pressure.
With its good fundamentals - value, growth and momentum, its price movement may move sideways or bounce to its 14 to 17 price range while waiting for its catalyst.
Note: This is not a financial advice. The author is long on $UNFI.
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As of June 16, I am correct in my analysis, $UNFI is now at $16.90. My forecast is a range between 14 to 17 while waiting for catalyst to break at 17.