NASDAQ:SFM is currently trading in a parallel channel and looks like it will trend down to attempt to retest the support at about $60.70 for a third touch.
Thoughts?
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 @...
Entry : $24.55
S/L. : $23.02
TP1. : $25.85
TP2 : $26.84
12 months Consensus Price Target: $23.5
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Thx
