PFGC trade ideas
$PFGC Performance Food OpportunityPerformance Food Group has been operating since 1885 and sells more than 150,000 food products through a variety of channels including directly to restaurants, making them a very stable company. On top of that in the last 2 years revenue has grown 50% and the stock price hasn't kept up, making for a good long opportunity. Technically speaking, price is considerably below the lower Buy Sell Band, with a RSI of 16 and more than 15% below it's 50 day MA which make for a good risk/reward long entry play here. Range indicators show price is non-trending, another great long opportunity to be had today.
PERFORMANCE FOODS GROUP View DailyHello traders, PERFORMANCE FOODS GROUP is in a fake downtrend with a low sell volume made and a sellers trace. TIMEFRAME M1 shows us a hammer candle with a low traded sell volume strong potential to breakout the price and then breakout a range. To go to the next higher which is just above (See TIMEFRAME H4). And if the buyers are back to reach the next top (View on TIMEFRAME H1). Not enough force to test the intermediate median and arrival on the panic before COVID on the ANDREWS PITCHFORK.
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short PFGC - head and shouldersPerformance Food Group Co. engages in the market and distribution of food products. It operates its business through the following segments: Performance Foodservice; PFG Customized; Vistar; and Corporate and All Other. The Performance Foodservice segment markets and distributes food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.
EV/EBITDA: 12
30% of EV is debt.
PFGC - Possible momentum short set up from $29.73 PFGC formed an inverse bump & run formation and now seems breaking into its Channel formation. It has a fair amount of insider selling & big institutional selling.
We think it has strong downside potential.
* Trade Criteria *
Date First Found- February 21, 2018
Pattern/Why- Inverse bump & run formation
Entry Target Criteria- Break of $29.73
Exit Target Criteria- Momentum
Stop Loss Criteria- $31.63
Indicator Notes- Twiggs money flow deep in the negative side.
Special Note- Lots of insider selling with big $ and big %'s
Please check back for Trade updates. (Note: Trade update is little delayed here.)
