UNFI: Unsure but worthy of the risk
From a first impression the stock looks great. The 50 day SMA is above the 200 day SMA, we are trading at ATH and ER (28th of September) was perceived positively from the market. We have an unprecedented spike in Volume corresponding to the 28th of September which would confirm the "victory" of this stock.
All good until we notice that we had the same situation on the 10th of March after ER, where the stock came back down. The only difference is that Volume -albeit high- didn't spike that much.
The reward for this trade would greatly outweight the loss given we put a stop loss right under today's low.
All good until we notice that we had the same situation on the 10th of March after ER, where the stock came back down. The only difference is that Volume -albeit high- didn't spike that much.
The reward for this trade would greatly outweight the loss given we put a stop loss right under today's low.
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