Must have been one good conference call, SFIX was up 10% AH and then tanked. Now down 10%, ad sitting at $23 AH as I type this.
I doubt anyone is gonna buy this pig other than shorts covering. Quite frankly, the reviews for Stitchfix are terrible. Don't buy stock in any company that you wouldn't do business with. Not sure why anyone would want a company that...
- peak volume
- 0.786 Fib
- Area of S/R
- previous move bull flag- broke out and paid at target- consolation time again
- Bullish divergence RSI- 15 min
- Bullish divergence MACD- 15 min
- 4 Hr MACD histogram crazy extended
- potential EW ending point
worst case SFIX is ast a conflunce zone-- best case bounce and...
Dropping hard on earnings, but it seems to be mid-range between Fib levels and below the previous July resistance area. I'm watching for a retest of 30, at which point I'll buy in for a rebound and continuation of the uptrend since June. It's a volatile stock, but this feels like the best move for risk-reward.
Rule of thumb on TA that violation of parabolic advance generally leads to 80% decline in value - see BTC hx - SFIX violated parabolic advance at around 50.45 - see related tweet from Peter Brandt regarding BTC
$SFIX Looking very overbought after an analyst price target increase earlier today. Money flow (MFI) has been on the decline since last week diverging from price action. Expecting a near term price correction.
Targeting $44.00 level at least, we will see if that holds as support...further downside possible.
Note: Informational analysis, not investment advice.