Stitch Fix (SFIX).Long Position
Entry: Above $4.80 (confirmation of breakout)
Target: $5.32, $5.70
Stop Loss: $4.20
Short Position
Entry: Below $3.03 (confirmation of breakdown)
Target: $2.50, $2.00
Stop Loss: $3.50
Bullish Scenario: If SFIX breaks above the $4.74 resistance, the next target would be $5.32. Given the momentum and current bullish indicators, a speculative target of $5.50-$5.70 by mid-August is plausible.
Bearish Scenario: Should SFIX fail to sustain above the $4.50 mark and break below $3.03, a bearish target of $2.50-$2.70 could be expected.
The latest candlestick patterns reveal a significant increase in trading volume, especially around mid-June, which resulted in a sharp upward movement in SFIX’s price. The price action shows a consolidation phase around the $4.50-$4.80 range, indicating accumulation.
