PETS Like it long above the box and short below.I am long biased on this one but happy to take it long above the box or short below. Targets are the black dotted lines.
PETS trade ideas
Trade Journal - Long $PETS - First Flag - 2/20/20Trying going long PETS again since stopping out last week. PETS has been within a beautiful consolidation pattern right above the Cup & Handle breakout pattern on the daily chart. PETS is holding the 20DMA and is coiling tightly at highs. I entered within the consolidation as PETS sprung from the support this morning and back near the breakout zone.
Entry - 28.41
Stop Loss - 27.40
Target - 33.00
Trade Journal: Long $PETS -2/11/2020PETS recently broke out of a Cup and Handle pattern while holding the 50MA. There was good volume on the breakout yesterday however today PETS pulled back and hammered off the breakout point. I took the opportunity to go long PETS within this pullback. This is a clean Cup & Handle setup with a clean line of resistance. I also like the fact PETS already announced earnings this quarter therefore there is a lot of time for natural price movement to occur.
Entry - 28.61
Stop Loss - 27.48
Target - 33
$PETS Heading To New Highs$PETS made a major breakout yesterday on heavy volume after a strong earnings beat. The $24 resistance level was broken through and we see the stock set to keep climbing. In looking at Q2 results, here are the highlights:
PetMed Express (NASDAQ:PETS): Q2 GAAP EPS of $0.33 beats by $0.07.
Revenue of $69.94M (-2.0% Y/Y) beats by $0.29M.
$PETS is also paying a quarterly dividend of $.27/share for a yield of 5.56%.
PetMed Express, Inc. and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, including heartworm preventative, flea and tick preventative, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes. The company also sells food, beds, crates, stairs, strollers, and other pet supplies. It sells its products through its Internet Website; telephone contact center; and direct mail/print through brochures and postcards. PetMed Express, Inc. was founded in 1996 and is headquartered in Delray Beach, Florida.
As always, trade with caution and use protective stops.
Good luck to all!
PETS - Watching for close above 50DMAPETS may have found a bottom. Walloped over the last 9 months due to competitive challenges. Company has a flexible balance sheet with limited debt.
PETS - Wedge SetupWatch PETS closely at the $48 whole number. Nicely sitting above the 50D SMA as well.
PETS Put SalePETS had a good gap down on earnings. They beat earnings, raised their dividend from .20 to .25 but traded down on their guidance. It is bouncing off the 20EMA a bit intraday. I do not mind owning shares down at $40 which is almost another 20% down, past the 50EMA/prior support, and would be right at the 100 SMA as well as more support. Let's see how it works.
PetMed Express: Take with care.Where is the balance? There is complexity here: market forces are not always good, and regulation is not always bad.
