Analyzing the options chain and the chart patterns of SMPL The Simply Good Foods Company prior to the earnings report this week, I would consider purchasing the 35usd strike price Puts with an expiration date of 2024-4-19, for a premium of approximately $1.90. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking at the SMPL The Simply Good Foods Company options chain ahead of earnings , I would buy the $40 strike price Calls with 2023-4-21 expiration date for about $1.50 premium. If the options turn out to be profitable Before the earnings release, i would sell at least 50%. Looking forward to read your opinion about it.
Similar formations are within the rectangles I expect a pattern repeat as shown with the bars pattern. This angle allows continuation of the channel, while providing some familiarity. Daily timeframe. I would call it a W formation.
SMPL gave a perfect breakout of the flat base with high volumes. All the levels on the charts.
Let me know in the comments your opinion about this long chart
SMPL looks great on paper. P/E is over 70, market cap is over 2B. Beat earnings estimates 3/4 quarters in 2019, and also 1st quarter 2020. Goldman Sachs just issued an upgrade, from Buy - to Buy with Conviction. Technical analysis, this is hitting a long term Fib level of 50% for the 3rd time, possible triple bottom formation. Very strong support at this...