It's showing some kind of bull flag/coiled spring, but it's not a fantastic picture. I don't really love it, and I'm heavily questioning everything I'm seeing. I can see why stimulants are so popular in trading/life in general. Without them this task is unenjoyable to the core.
Probably shouldn't post this, but just a little real-life energy comin' at ya. Man...
Bollinger Bands getting tight, signaling a possible breakout soon. Heavy buying volume throughout the last week.
A move up toward 21.50 would confirm the trend change from consolidation to bull run.
With a Sprouting 356 store nationwide & a net sales of $1.6 billion for Q3 2020 I have no doubt $SFM will continue to grow in the coming years. During the 3rd quarter, Sprouts improved on profit, income and earnings per share.
A Major key in this reversal is looking for the next monthly candle to be green & gain momentum to the $25-$30 area
Chart Stats: Low @...
On Sprouts Farmers Marker we see a rising wedge in a downtrend,
breakout can occur upwards or downwards, but in a bearish trend I am looking for more confluence indicators
On a large timeframe I will wait until the candle closes below structure.
The initial target is market below around $17.00