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Stitchfixshort

SFIX disappointing Q2 earningsThe Head and Shoulders chart pattern is one of the most bearish signs that you can see in chart. That was also the case with PTON: i don`t know how they eventually turn out to corelate with fundamentals and be right. Since it is still a growth stock, Stitch Fix needs to deliver strong momentum. Instead, Stitch Fix projected that net revenue will drop 10% to 7% YoY, ranging $485 - $500Mil below expectations of $560.5 million. Full-year guidance is flat, possibly even a minor descent. In this case, the Market Cap of 1.198B doesn`t justify. We will see an all time low today.
NASDAQ:SFIXShort
by TopgOptions
$SFIX Nothing good happens below the daily 50 MATechnically, the chart looks ugly for SFIX. No recovery in sight as it still finds price action right at the gap down VWAP and very close to the March low's VWAP. It has struggled to for any sort of decent wedge or flag, and the candles look no better. The 21 to 8 EMA cross has not been reclaimed and it doesn't look close yet. If that low wave 5 put in the last few days is the end of this impulsive move down, then I expect SFIX to drop below to hit the 1.618 to initiate a corrective wave pattern, using wave (e) as a minor A, and the recent highs as a minor B, then the fib below should follow. Add to TA that the CEO recently stepped down into an executive chair role and how insiders have been selling since last year, it does not look good at all. It wouldn't surprise me to see a gap fill during a market correction, which could happen as soon as next week. I will be adding shorts below 48.81, putting in lower lows in this downtrend.
NASDAQ:SFIXShort
by Modus777