GO GAPThere is some strong support with VWAP at the $26.66 level. We are currently at the $22.47 level with a positive upward movement to close the gap. MACD is crossing and the RSI is oversold at 39.94. This could be a great $4 average move. Many insiders in the officers of the company have also bought in. Let's see where it goes.
GO trade ideas
BULL MARKET DURING INFLATIONSo GO has started an uptrend during the announcement of the increase of interest rate by the federal bank. Unfortunately i entered a little late in this trend but i will make sure to put my stop loss a little below my entry to give it a chance to hold long. GO has still a good shot to increase its value on the market. Despite the fact that one of the director sold his shares, the trend is still positive as of now.
$GO ~ Completing wave 5 as shown...Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company’s stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine. As of March 1, 2022, it had approximately 410 stores in California, Washington, Oregon, Pennsylvania, Idaho, Nevada, and New Jersey. The company was founded in 1946 and is headquartered in Emeryville, California.
Bullish ButterflyStimulus building opportunity for this morning is GO. Bullish Butterfly Harmonic pattern. Has hidden bullish divergence on the daily, momentum is positive. Reaction to the price action at the pattern completion zone has retested an old gap fill from June as support & bounced off of it. Stop/Loss would for me would be $34.64, first target $39.72, 2nd Target $44.05, and if your patient enough the third target would be $46.71. Not financial advice, but this is a good risk to reward opportunity for myself
The Value of GROCERY OUTLET HOLDING CORP DailyHello traders, GROCERY OUTLET HOLDING CORP is in a fake bearish movement with low sell volume made and a hammer candle shape. On the TIMEFRAME M1 we see a tombstone with a purchase volume return issued, it is heading towards its lowest, but will stop before on the VWAP to do its swallowing by testing it. Then again check the different levels of the bollinger and go to the top of the stabilization zone to test it. Great potential to breakout the price with the return of moment of the carriers at the same time the zone to reach the one above and to land on the next high.
On (TIMEFRAME H4) a resistance to yield before the breakout of a stabilization zone by passing (on TIMEFRAME H1) an adjustment followed by two excesses before. Little buying power to test the intermediate median of ANDREWS PITCHFORK.
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$GO Charting PatternsMy analysis: I'm curious to see how this performs. $GO bounced off the 200 MA back in June and seemed to have triggered a wave 1 and a price channel. This time it broke the price channel but appears to be bouncing off the 200 MA and the start of wave A. Targeted rebound to $41. If it breaks through the channel I am bullish but if it falls below 39.33 after the bounce I turn bearish.
Thoughts?
"I'm not an expert but I have watched a number of youtube videos"
NASDAQ:GO
Grocery Outlet: Weak Quarter, Long-term PlayWhile revenue fell below expectations, Grocery Outlet's earnings skyrocketed ahead of expectations. the company still trades at 1.2x sales and looks to be a medium conviction play.
When considering the consolidation in the grocery space in general, as well as FCF for reinvestment, it's worth thinking about the buyout potential for a mid-tier regional looking to expand their footprint. I think of a comparable, Costco ( NASDAQ:COST ) performance has done insanely well this year.
Reversal in Grocery Outlet The stock is trying to put in a bottom and the recent upbeat earnings may have attracted the attention of some new investors.
THE OBV has shown strength for some time while the price has continued to drop which id is bullish and a reversal signal.
Seeking alpha earnings article =
Grocery Outlet Holding (NASDAQ:GO) reports comparable sales increased 5.8% in Q3.
Adjusted EBITDA was up 13.2% to $44.2M during the quarter.
Looking ahead, Grocery Outlet sees full-year sales of $2.50B to $2.53B vs. prior guidance for a tally above $2.55B. Adjusted EBITDA of $162M to $165.5M is anticipated vs. $167M to $168M prior view.
Company profile
Grocery Outlet Holding Corp. engages in the operation of retail stores. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.