Michaels has been down, down, down for months. With its positive earnings report today, that trend could change in a big way. Despite rising China tariffs, Michaels has increased its operating income and opened more stores than it's closed. Barring additional tariffs, Michaels should start to pull out of its down trend. At the very least, I expect to see a test of...
Spotting where the buy stops and sell stops (which the institutional traders would look for and eventually consume it) is not that difficult. All you need is to think "when I was a newbie trader, where would I put my stops based on xyz method" The most common stop losses that is easy to spot are ones for reversal traders (using reversal candlestick pattern such...
BUY – TESCO (TSCO) Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services. Fundamentals It’s been a tough few months for Tesco shareholders with the shares having slumped over 13% from the 2019 high. The business has embarked on a massive overhaul...
I'm seeing a nice triple Top Resistance combined with a strong Trendline from the past that are holding the price above 1.3330, let's short.
Technical Howden Joinery looks interesting on a technical basis. The shares shot higher to new highs following a bullish update to the market. We have since seen the share price unwind to some sensible levels as the overall market continues in this condolidaiton phase. The shares have reached a confluence of Fibonacci support levels, which I have highlighted on...
Higher lows since it bottomed out at 52 week lows (.65) back in June. Built new support @ $1.20. Would be ideal if it can continue to hold above new support. Next major resistance up @ $1.65. Pivot $1.93 and I believe we can see retracement back to (April highs). PT: $2.40
News/fundamental The USTR says that the tariffs on some items, including “certain toys,” will be delayed until Dec. 15. September is a key shipping month for those companies as they prepare for the holiday shopping season, when the majority of the industry’s business occurs. Hasbro told CNBC earlier this month that it would have “no choice but to pass...
Pound/Yen will continue to go down further. This is due to the following listed below; > USD/JPY having a downtrend that may continue > UK slowing inflation > UK slowing retail sales It's in my opinion that a short sell position is made on the 1 day chart, the downtrend is speculated to continue until mid next week.
Ahead of earnings, SFIX got an upgrade from the analytics firm Stifel, which cited SFIX's history of strong earnings and its attractive valuation. That appears to have driven a breakout above the stock's downward trend line today. Trend line breaks are usually bullish, and can lead to big gains like the PG&E trend line break I identified the other day. Others are...
Stitch Fix plummeted today, but it's getting some late-day buying volume at this support node near 27. We could see a rebound tomorrow, forming something of a bullish bat pattern.
Chewy missed analyst earnings estimates by 1 cent per share, but posted good year-over-year improvement. It's down a lot today, but has support around 31 and could rebound from there. Below the previous low of 30.81 would be a good spot for a stop loss.
Revolve has had a rocky time since its IPO, with lots of volatility and several breaks below critical trend lines. However, this company is profitable, undervalued, and highly rated, and in my opinion it's still a great value. With Revolve having breached the bottom of its parallel channel today, it's likely to establish a new channel. I've drawn a couple...
As my followers know, I've been following Stitch Fix and Revolve as both stocks take a dive today. The plummet comes, surprisingly, just a day after strong retail sales data for June. It was the strongest quarterly retail sales growth since they started recording this data in 1992! However, that's mostly because Q1 was so weak that Q2 looks strong by comparison....
Today looks like a good entry on RVLV, with the price testing the bottom of its parallel channel. RVLV also has a volume support node at 35.27 and is close to oversold on the RSI. We just got an upward stochastic cross as well. RVLV is undervalued and has bullish analyst ratings.
Stitch Fix is at support from a high-volume node on the volume profile and from its 50-day moving average. It also has some RSI support around 38. The stock just got some big analyst upgrades from Zacks and Goldman, which could serve as upside catalysts. The Internet retail sector is currently outperforming the S&P 500. S&P Capital IQ rates Stitch Fix as...
Hibbett Sports took a pretty decisive jump after touching its next support level the other day. Hibbett's had a bunch of recent analyst upgrades, and on Friday a single trader bought a huge number of July calls (79K shares) with a price target of 18.65 or better. Having said all that, Recognia's Elliott Wave analysis of Hibbett suggests it will keep heading...
The consumer discretionary (i.e. retail) sector has made a bullish MACD cross on its weekly chart. It's also above signal line on the daily chart. This suggests the sector is entering a new medium-term uptrend. Now should be a good time to buy and hold the sector.