My buddy drew me to this stock. Looking for entry above 33$. Looks ready to rip. Resistance at 32.76. Let’s see if we can get a breakout 43$ is the targeted move if your looking for a stock play
ASO did an ipo in Oct 2020 , they are not a new company , operates 259 stores in US . Founded in 1938.
I noticed that they are exhibiting signs of strong leadership especially seeing how when the market was correcting and putting in a bottom (03/08/21) ASO seemingly had no issues holding their base ranges . We have formed a second base since as the stock has a...
Been holding this for 1 week, we might get a move soon. Here are the updated price targets. Usually, when my intermediate-term swing trades don't work for 1 week, it usually doesn't work. But still hopeful in this setup. Still have 4 contracts at a loss.
If the white TL breaks, I might buy short-term puts. Let's flow with the market.
$ASO navigated out of its consolidated price pattern with a resurgent of its uptrend coupled high sessional volume, rallying up +15% this month (April). $ASO was previously whipsawing along its 20DMA over the course of 7 weeks since the start of February. $ASO is currently trading at $32.70, merely a dollar away from its all time high.
At the current junction...
The numbers back it up. pile in. Shorts have yet to cover and may have increased their short position more since 3/15/21. I have $35 strike calls 4/16 expiry. It's like a southern dicks sporting goods that have the majority of its locations concentrated in states that don't have mask mandates.
ASO short term C&H breakout confirmation here and signals an implied move towards $35 ($34.83 to be exact). Watch the red resistance line above as it has been rejected by that 5 times since IPO. Long term, that bottom trend (not pictured) will eventually catch up to that top trend line and create a fallen wedge. You could play the short term implied move here but...
MACD is elevated and the RSI in the white (over bought). Wait for a test of the yellow support line and if it fails wait for entry at lower trend line.
