VWE (Long Term Entry)

BATS:VWE   Vintage Wine Estates, Inc.
Have been DCA-ing Vintage Wine Estates over the last few weeks attempting to maintain an average cost in the .57-.59 range. From a macro standpoint VWE has spent a full year trimming fat & organizing the business for the arrival of new CEO Seth Kaufman previously CEO of LVMH (Louis Vuitton Moet Hennessy). As VWE needs to be above $1 by spring to avoid de-listing, if a run will be made it needs to begin soon. Fortunately, the setup appears there. We called our first drop to the blue-zone territory and made our final buys in preparation for an explosion from the yellow box. Full disclosure, was not expecting the immediate collapse but our setup still remains true in spite of the post-news price explosion. Currently, the 20ma is setting up to cross the 50, the several week lower trend line is still being respected in our formation, & stochs are setting up for a buy-zone position. If formation breaks down the next lower target could be around .50. Would like to see the price floor move to .66-.70 over the following weeks


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