FIZZ After falling 70% from the ATH the structure looks similar to the one in 2008 and maintained the upward trend on LOG scale.
FIZZ trade ideas
$FIZZ 52-WEEKS LOWS 38.28 bounced to 45.55 LONG BULLISH$FIZZ National Beverage Corp. Strong bounce with good volume from 52-weeks lows at 38.28 good indicators , strong resistance at 50 after close above it we can see targets at 72-74 and 65 previous gap . new support at 42 should be respected . these shares fell hardly from area of 120 before market drop end of last year !! Need to check fundamental data but looks fine for bullish setup under condition to close above 50 with good volume for 3 days then it will be perfectoo
Positive Divergence in MACDFIZZ has been one of the most hated stocks over the last 12 months losing ≈70% market cap.
The float is over 53% shorted currently @ a ratio of 11.52
We can see that there is + divergence from march 2019 till now.
I do not expects FIZZ to stay at its current valuation for much longer considering that the PE is 37% below industry and 55% below the company's 5 year AVG
The company has no debt and the revs, profit and EPS are not consistent with the valuation especially so far below industry due to a lawsuit that has not had a material impact on income statement except court costs.
DCF margin of safety stands at 42% w/ a reverse DCF growth rate of 9.58%
FIZZ is priced perfectly for a buyout and I'm sure PEP and KO are watching, but would they be willing to pay the premium up to fair value is the question.
Update (1): $FIZZ mid-term bullishWell I gave up on watching this yesterday :) . Lucky me.
In my experience this kind of shenanigan (long lower wick on weekly), and the lower end of the wick sit on the red pressure pivot) generally are bullish, but I personally just hate shenanigans and will just hold my 2019 calls. I wont add anymore.
I will still update if I find something worth sharing on this.
