Ahead of earnings, SFIX got an upgrade from the analytics firm Stifel, which cited SFIX's history of strong earnings and its attractive valuation. That appears to have driven a breakout above the stock's downward trend line today. Trend line breaks are usually bullish, and can lead to big gains like the PG&E trend line break I identified the other day. Others are slower gainers, like my LFVN trend line play.
SFIX has recently made an inverted cup, and could now make a handle. Sell any breach of SFIX's new upward trendline.
SFIX has recently made an inverted cup, and could now make a handle. Sell any breach of SFIX's new upward trendline.
Note
I sold at the exact peak of SFIX's jump to 28.10 today. I feel pretty good, since SFIX promptly pulled way back. It's at a volume support now, and testing the trend line. Keep stops in place below the trend line on the hourly chart.Note
Trend line broke, but not on volume. Outlook neutral until test of 200 EMA is complete.Note
Descending wedge pattern. Divergences are bearish. Note
SFIX has been working on breaking out of the wedge today, and it just got there, although not with strong volume.Note
Trendline break didn't hold, and we closed below the line. There's still some moving average support, so hard to say what the stock will do Monday.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.