PETS had a good gap down on earnings. They beat earnings, raised their dividend from .20 to .25 but traded down on their guidance. It is bouncing off the 20EMA a bit intraday. I do not mind owning shares down at $40 which is almost another 20% down, past the 50EMA/prior support, and would be right at the 100 SMA as well as more support. Let's see how it works.
PETS afters some news today has busted out of range. there is about 40% short interest in this. watching this closely for a breakout later we should start a short squeeze back up to highs or higher.
A negative article smacked PETS down over 40% in just a few weeks. Since then it has leveled off and seems to be close to squeezing some shorts out. Volume has NOT confirmed a move, but price action has hinted at one, with the highest close (and first over 8 ema) since the final meltdown on 8/23. This isn't my most confident play, but I love the gains from these...
According to my brother Niels C " Cramer yesterday - his theme was pet care - one of the stocks he covered was PETS. What's your opinion - for a swing trade?"
Here's my technical analysis on PETS. I agree. Looks bullish to neutral. I agree!
We missed the day trade on PETS. : ( BUT, with the selling that's coming in right now, IV is spiking. I wouldn't mind owning down here anyway. PETS does pay dividends and it's over $13 away from where we are now.....
