From a trend point of view, Petco is ready to make higher highs, completing a rising wedge
at this rate. The general trend is still bullish
until it breaks from the wedge
. If it completes a 1.168 move higher, then I would expect a retrace from there. If the wedge
is completed sooner, it should be via a strong catalyst, earnings
being the closest one. Under IPO VWAP
I expect this supply to continue on completion for a move lower.