sptn, Interesting something different anyway... tight, vol contracting ...... decent price action ...
SPTN trade ideas
chart request/questiondo i think this charts a breakout? no, as you can see in its history its been rejected around this price so many times, id say wait for 24+ then it is a breakout, for now id look for a dip entry. dont get caught at the high! goodluck :)
#Breakouts Don't always work #TradeManagement #StopLoss #SPTNIf you traded long enough, you know that no matter how great looking a chart pattern is, it could still fail. NASDAQ:SPTN is a good example of that. The 2 months Cup and Handle chart pattern was very well defined with a breakout few days ago on decent volume. Stock stalled right after the breakout with no follow through and ultimately dropped below horizontal breakout line. When you enter a trade, always make sure to know when it is time to exist. Use your trade management skills and use stop losses. This setup is still valid as long as the price does not close below $20. For now the stock is back into its consolidation pattern and no longer in a breakout mode.
#KeepItSimple
SPTN Breakout Alert from #CupandHandle #ChartPatternand there she goes. Broke out today on good volume. Posted this over the weekend after coming across this setup during my chart screening.
Keep it Simple!
SPTN forming 2 months #CupandHandle #chartpattern2 months long #CupandHandle chart pattern on NASDAQ:SPTN . Daily close above pattern resistance will set the stage to a breakout rally up to pattern price target indicated on the chart.
4 Stocks, I Been Watching like a HawkFirst off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said, the four stocks that I been currently bullish on that I am still watching like a hawk include SPTN, JNCE, ACB, SLRX. JNCE worries me in the fact that the market is unpredictable, ACB is very volatile from time to time, and SLRX didn't have the best week recently. However, I still think these are very strong picks and the opportunity cost outweighs some of the risk short term. I just need to be indicative of the patterns of these other 3 and not be too emotional, but I think they are still currently decent holds. As far as SPTN goes, still underrated given how great their very recent earnings call was.
SPTN is really underrated right now, still a gem!First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said, SPTN should really start to rise. The market's reaction to their outstanding earnings call was mainly due to a bunch of people shortening out too early rather than hopping to ride a wave. I still wanna get out a surf board and continue the ride. I think it may be bumpy, but I'm definitely hopeful. This is about to hit $25 soon in my opinion. Reason I'm marking this as short is because once it hits $25, I will mitigate some risk and move to a higher growth stock and as the day trading wannabe, try finding another wave to ride over and over.
SPTN: Earnings Call Postive: Sell off at $25 (Beat Expectations)First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis. That being said Spartan Nash which was already rallying beat earnings call expectations. Infact, they crushed it. As tempted as people are to take potential profits they have and sell at current market price, I suggest you set a sell order for $25, because it looks like this is a push of a continuation of that rally. This is especially true given it will hit the $22 resistance wall and is expected to have newer 52 week highs. A $25 sell order may seem like high hopes, but in my opinion it could go to that much.
SPTN: Groceries in restaurants out for now.To me the bottom wave forms look more like a corrective pattern so I am not expecting a new long term high. However "C" of a correction can be fast and furious. I have based the target box on the height of the "W" pattern and the Fibonacci relationship. You could use a stop below the short term up trend line or the recent low on the 1 hour as a stop.
Process your way. Link below for more info.
Take care. God Bless you and all you love.
See Bulkowski for more on the Big W pattern:
thepatternsite.com
From Zacks
SpartanNash Co. is a food distributor serving military commissaries and exchanges in the United States. The company's core businesses include distributing food to military commissaries and exchanges and independent and corporate-owned retail stores located in 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. It operates supermarkets, primarily under the banners of Family Fare Supermarkets, No Frills, Bag 'n Save and Econofoods. SpartanNash Co., formerly known as Spartan Stores, Inc., is headquartered in United States.
Golden Cross and High Book Value$partanNash
Industry; Groceries
Sub-Industry; Food Distributors
Sector Retail/Wholesale
Fundamentals
Book Vakue pr share: $19.92
P/E Ratio 7.48
Institutional Ownership Percentage: 80.95% - More buying than selling in Q3/4
Insider Ownership Percentage: 2.20%
Debt situation, probably not a hold in a recession
Debt-to-Equity Ratio 1.39 - Should be below 1
Current Ratio 1.72 - Is actually decent. Above 1 / Below 3
Quick Ratio 0.74 - Should be above 1
Technicals
Golden Cross has occurred 20 & 50 crossed 200 MA
A small paralell uptrend has begun, still needs to break out of the LT downtrend line, to be a buy.
A Bounce on the 200 MA could also present a buying opprtunity
$SPTN weekly chart Inverse H&S breakout Very nice inverse H&S shaping up on the weekly chart, trying to breakout after couple attempts in the past month
MACD and RSI both very supportive (MACD histogram in positive territory / RSI above 40)
Check out the accumulation volume in the past 2 months or so (after the capitulation selloff down to around 9.00ish , buyers stepped in and more than absorbed the selling volume)
Headline around 8.80-9.00 / shoulder line around 17.00 / neckline around 12.25
Next 2 trading sessions are crucial, ideally look for a weekly close above 12.25 (neckline) to participate
Calculated target based on the head to neck distance is around 15.68
