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Academy Sports and Outdoors, Inc.Academy Sports and Outdoors, Inc.Academy Sports and Outdoors, Inc.

Academy Sports and Outdoors, Inc.

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ASO trade ideas

ASO , A market leader in the making . ASO did an ipo in Oct 2020 , they are not a new company , operates 259 stores in US . Founded in 1938. I noticed that they are exhibiting signs of strong leadership especially seeing how when the market was correcting and putting in a bottom (03/08/21) ASO seemingly had no issues holding their base ranges . We have formed a second base since as the stock has a "normal reaction" to gains and it looks like based on Fridays wicking that the buyers are ready to take control and resume the climb . Funds are still finding this but the number of funds is increasing and there are some high quality players in the pool too . 146 Funds with holdings as of March 2021. Sales and earnings show nice growth trends , and institutions are already holding a decent portion of float and clearly supporting it . I see this has a high short float at 16.33% with a 7 day ratio. Honestly, based on fundamentals this is the last stock you would want to short imo, solid fundamentals and nice technicals too. But the reason I mention that short float is that it could actually simply serve as an added price boost as those bearish players are squeezed . Unless they know something we don't but ill follow the volume , sales/ eps , and institution's .
NASDAQ:ASOLong
by NAK1987
7
US Stock In Play: $ASO (Academy Sports and Outdoors Inc)$ASO navigated out of its consolidated price pattern with a resurgent of its uptrend coupled high sessional volume, rallying up +15% this month (April). $ASO was previously whipsawing along its 20DMA over the course of 7 weeks since the start of February. $ASO is currently trading at $32.70, merely a dollar away from its all time high. At the current junction $ASO is displaying a congested price pattern with dried up volume, posing for an all time high breakout in the upcoming week. $ASO through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States.
NASDAQ:ASOLong
by jfsrevg
4
ASO - Short Term PT 35ASO short term C&H breakout confirmation here and signals an implied move towards $35 ($34.83 to be exact). Watch the red resistance line above as it has been rejected by that 5 times since IPO. Long term, that bottom trend (not pictured) will eventually catch up to that top trend line and create a fallen wedge. You could play the short term implied move here but more money to be made imo on the downside playing that resistance line and eventually the rising wedge breakdown.
NASDAQ:ASOLong
by MarketMotion