Been stalking this one for a while. Disappointed that I missed the trend break at $33.50ish. And then missed the breakout again at $34.25. Would take a long position on a pull to about 34.50 if acts right.
BUFF is forming a possible declining neck head & shoulders pattern. In the weekly frame it also seems a head & shoulder formation. It has high P/E & Debt/Equity ratio. It also has some insider selling history.
So overall a decent short opportunity, from $23.17 to 18 area.
On the option side we would consider $25 March-17 Puts
You can check our detailed ...
Buff is ready to breakout, this could offer a good buy with a low risk opportunity....stop around 25 area for tight stop or 22 for loose stop. But that is a 5.00 stop so need a 10.00 move to get the 2:1 or better.
BUFF has been stair stepping downwards the past couple of weeks and should continue, First it needs to break the support level at around $22.50 then it should have no problem heading down to around $21. The multiple long upper shadows suggest the Bulls have been attempting to gain momentum but have been unsuccessful, ...
This stock is new but a hot player in pet food with close to 1B in sales. Their earnings are out Thursday and may breakout prior but it is good to allow earnings to come out first so you don't lose money...watch this one