If you haven`t sold WOOF before the previous earnings:
Then analyzing the options chain and the chart patterns of WOOF Petco Health and Wellness Company prior to the earnings report this week,
I would consider purchasing the 3usd strike price Puts with
an expiration date of 2024-4-19,
for a premium of approximately $0.57.
If these options prove to be profitable...
Seems like earnings are due for the beleagued pet advocate; after a dismal few years of meeting and undeperforming there seems to be a small air of "what's next" happening for PETCO(WOOF). With Chewy(CHWY) in the wing gobbling up e-comm market shares, only time will tell what moves PETCO will make to regain some of that lost interest.
If you haven`t sold WOOF here, ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of WOOF Petco Health and Wellness Company prior to the earnings report this week,
I would consider purchasing the 7usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $0.70.
If these options prove to be...
OPRA on the 30-minute chart dropped after an earnings beat as apparently a lot of traders
expected better. The volume profile shows the vast majority of the trading occurred in
the 5.05 to 5.25 range. This heavy accumulation should result in price movement in due
time per Wycoff. I believe that a long trade is setup for a Fibonacci retracement of the
drop...
Analyzing the options chain of WOOF Petco Health and Wellness Company prior to the earnings report this week,
I would consider purchasing the 9usd strike price Puts with
an expiration date of 2024-1-19,
for a premium of approximately $1.20
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to...
I've been long WOOF from previous post, and added to position today as now WOOF is coming out of a rounded base and closing above the 30 week MA (orange line).
Now, so long as WOOF closes above 30 week MA, I'm long and will add.
What I'd like to see is the 10 week MA (blue line) cross and for price action to sustain above to new highs.
22.8 and 25 zone are...
I'm long WOOF calls . As a frenchie owner (his name is Frisco hence my trading name), I know the amount of $ people are willing to spend on their pets.
But also technically speaking, WOOF is coming out of a nice rounded bases and breaking out today. With that huge gap above needed to be filled, this looks like a good R/R long trade, aiming for $24.
Don't be...
Good Company has ~1 billion in quarterly revenue. Never missed any of the earnings. expecting to reclaim ~25 range in next month or so.
Easy 25% upside.
Love the clean supply line around $22.80 on $WOOF
Volume pattern supporting this possibly becoming a valid IPO bottom. Only slight issue is price wedging under breakout level.
That said, my dog said woof to $WOOF, so I think he wants me to buy it.
Pet Co 1hr ext chart shows the sell-off has slowed down near the 2.618 fib @ $21.80. Also a local POC snapped there, with a bigger one in the 23s. RSI, OBV and CMF look bullish. There's support lower at $20.80 with ATL at $17.87. I'm looking to start stepping in on dips below here with a tight SL under the $20.80 support. PT $25.50-26.50
Impulse in the form of a leading diagonal. Followed by a three-wave pullback (flat pattern).
IMO is a nice opportunity.
From a cash-flow perspective the company is a strong buy
Next meme stock right here. I wouldn't be surprised on a 300% move by year end due to such high short interest. Disclaimer: I own July and December calls. Do your DD, compelling story here.
insert rocket and moon emojis. Hope everyone catches this move.
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...
