PURPLE GROUP LTDShort
Purple Group LTD
Purple Group has had a massive run up over the last 6-12 months. Yes, their customer growth has been impressive and they continue to grow exponentially, but it goes without saying that you should be cautious and not overly optimistic and this point.
Purple Group must still grow into their earnings and continue to show the market that they have what it takes to stand the test of time.
As Warren Buffet states; "Price is what you pay; value is what you get".
If the head and shoulder formation plays out, I think we will have one last opportunity to buy stock below R1 before the share moves into a new trading range.
My prediction is that we could see below R1 again before the year is up or as early as January 2022. After that we wont see below R1 again and Purple Group will trade in a new range between R1.20 -R2 in 2022.
With that being said,
I'm extremely bullish on this stock and really excited about their long term fundamentals, but why not benefit from now and in-between then - and bank some profits along the way.
Purple Group must still grow into their earnings and continue to show the market that they have what it takes to stand the test of time.
As Warren Buffet states; "Price is what you pay; value is what you get".
If the head and shoulder formation plays out, I think we will have one last opportunity to buy stock below R1 before the share moves into a new trading range.
My prediction is that we could see below R1 again before the year is up or as early as January 2022. After that we wont see below R1 again and Purple Group will trade in a new range between R1.20 -R2 in 2022.
With that being said,
I'm extremely bullish on this stock and really excited about their long term fundamentals, but why not benefit from now and in-between then - and bank some profits along the way.
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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.
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.