UNFI Long
Fundamental Perspective:
United Natural Foods (UNFI) is a food wholesaler. They are currently best known as the supplier to WholeFoods and is one of the largest food distributors in America. From a fundamental perspective UNFI is on track to succeed. What's interesting is that this company were so excited to release their earnings, they put out a preliminary report and they absolutely hit it right outta the park: //ir.unfi.com/news/press-release-details/2020/United-Natural-Foods-Announces-Preliminary-Third-Quarter-Results-and-Provides-COVID-19-Business-Update/default.aspx
Technical Perspective:
As you can see, typical descending wedge following a parabolic movement aka bull flag. If we see another leg up to $22.50 by ER on June 10, we may potentially see a cup and handle breakout.
United Natural Foods (UNFI) is a food wholesaler. They are currently best known as the supplier to WholeFoods and is one of the largest food distributors in America. From a fundamental perspective UNFI is on track to succeed. What's interesting is that this company were so excited to release their earnings, they put out a preliminary report and they absolutely hit it right outta the park: //ir.unfi.com/news/press-release-details/2020/United-Natural-Foods-Announces-Preliminary-Third-Quarter-Results-and-Provides-COVID-19-Business-Update/default.aspx
Technical Perspective:
As you can see, typical descending wedge following a parabolic movement aka bull flag. If we see another leg up to $22.50 by ER on June 10, we may potentially see a cup and handle breakout.
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