POST has broken out of the rectangular formation, within which it was trading since May this year. Price is now above 20/50/100/200 EMA. Next stop is 95 when it will form a double top with the last all time high in Feb 2023.
So this is one I have been watching for quite a while and it is doing really well made it into the GLB list too ...
I saw a wedge pop on this candle when I took it roughly 20 min to close , but unfortunately it invalidated the buy signal , but I was already in and I just realized it closed just under the actual signal . So lets see what happens in any case ....
I'm liking the looks of alot of the Food Companies like General Mills, Smuckers, Post, and Nestle. As a Result i will be entering Bullish Positions on POST, GIS, and Nestle(NSRGY).
This is pretty early but this one just caught my eye because its making new highs and that hammer today closed right above the GLB .
I want to note some potential cons :
The volume is low , price action messy
The earnings are kind of sub par
I see some inside selling , from late may too .
But a GLB is an important area of interest and todays hammer looked...
POST keep on watch for blue sky breakout, I added a starter debit spread 80/85c JUL . Option names aren't extremely liquid so would give it some time as an idea with something ITM (either naked but debit spread is more risk friendly).
Made good money on this name after a whale trade , whale is still there buying the JAN 70 calls and looks like they came back...
Entry level $110 = Target price $114 = Stop loss $124
Jefferies analyst Rob Dickerson initiated coverage of Post Holdings with a Buy rating and $130 price target. The analyst cites the company's valuation discount relative to its peers as well as its relatively higher free cash flow yield. Dickerson further notes Post Holdings' potential for value-creating...
