The compagny is currently experiencing massive line up in their store across-the-board. 3days a go it etablish a new high since the Covid crash. We can easily go back to the same zone and further.
The price is rejecting two support, a trend line base on the current bullish move and a daily support that the price rebound on it already 2-3 times adding up with a...
Looks like Canada goose is going to fly.
After almost 3 month consolidation, Canada goose is finally breaking out today.
1). GOOS has been consolidating for almost 3 months after 2020-06-03 pivot high of $34.61.
2). Today it looks likes breaking out.
3). Closing above $34.61 and holding above it for next week will confirm the breakout.
First,let us take a step back look at the weekly chart
Taking a look at the weekly rsi, whenever the William R falls below -93% it has created a decent bounce.
On the daily it appears to be at the bottom of a downwards channel and also it is reaching support from June 6.
However, that does not necessarily mean it is time...
Ultimately it will dip to $36-37, before we can see any sign of recovery.
2019 is the year GOOS investor wants to forget about, but we are about to get back to starting line again in March 2020.
We are in economic cycle where market trend will definitely impact this stock, so uncertainty is very high but at $36-37 entry point, our Risk to Reward ratio is very attractive.
Canada Goose has taken quite the hit over the last year as it essentially lost 50% of its numerical stock value. However, what traders must realize is Lululemon essentially went through the same process years ago when it surged from basically nothing to about 85-90.00 and also lost 50% of its value to near 40-50. Now, its about a 260+ stock.
In this case because...
Bearish looking short term, may be good entry under $45 if gets there again.
Need some solid news or really pretty earning report to push this up a notch. Winter is here and hopefully sales is picking up.
Got to be brave to get in before earning as anything could happen.
GOOS with multiple daily inside bars and an hourly eq that broke bullish but bears smacked it down on big volume - a bit of a red flag. Let's see if the next resistances can break and if the bulls can do it on 250k shares in the first hour of trading
Don't worry, if the bounce doesn't get going tomorrow, I have plenty more goose puns left.
Swinging a position again for an oversold bounce, here's what I'm watching heading into tomorrow - green lights red flags, and everything in between.
I'm watching Canada Goose for a bounce after being absolutely crushed today on its highest volume day ever. Hourly RSI fell in one straight shot from overbought to oversold, I have swung a small position and will add into weakness if things get more extreme tomorrow. I haven't fully identified profit targets yet but I do have a trendline I would look for price...