PURPLE (PRPL) may be in the process of reversal.
Updated
PURPLE, yes the mattress company, has bee getting hammered for a while now. Their stock price was mile higher than it is now, but it looks like the bottom may just be in. And, it's gone down so much, compared to what it used to be, that the risk involved in investing, or trading it has decreased as well. Keep in mind that this company is extremely subject to interest rates, and interest hikes/cuts.
This would probably be a good play for some mid to longer term options plays. Just make sure there's open interest in the strike if you do buy one, as liquidity is key to options trading.
Good luck, and always use a stop.
This would probably be a good play for some mid to longer term options plays. Just make sure there's open interest in the strike if you do buy one, as liquidity is key to options trading.
Good luck, and always use a stop.
Note
There is a bearish divergence on the 45 chart. Keep this in mind. Note
Here's a closer look at PRPL on the daily chart. Breaking this wedge will be key to seeing to any substantial gains moving forward. Watch the interest rates, as they drop, PRPL will rise, since their current business model is heavily reliant upon credit for customer purchases at this time.
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