BARK a dog supply speciality stock Reverses LONGBARK is the stock of a relatively young company.It is now growing
and has had positive earnings The chart shows a reversal from the
prior downtrend which started with a double top in January.
The order block indicator shows a base of buy order blocks forming the support.
Upside is 45% to the resistance of the double top and the sell order
blocks. The anchored VWAP shows that price was supported by
the line of two standard deviations below VWAP in the deep
undervalued zone. However, with the reversal, price is now targeting
the VWAP itself which also could be an initial target for trade.
Fundamentally, no matter whether a recession is impending, people will care
for their dogs and sales should not suffer. If anything, people will seek
value deals compared with brick-and-mortar sources. Not a coincidence
but another dog-related stock WOOF is on an uptrend as well.
As a penny stock, this is a risky long trade however I also see the
reward potential. The call options for expiration on 5/19 are
priced at about $10 per contract making them very affordable
way to leverage the trade.
see also the stock analyst report linked here stockanalysis.com
