Stitch Fix has announced that its Board of Directors has approved a share buyback program under which Stitch Fix can acquire up to $150 million of Class A common shares. This statement pushed the stock up by 10%. But is there still potential?
- The price is in the zone of long-term support (since 2018).
- From the point of view of waves. We have completed the 3rd correction wave and now there should be a rebound within 4.
- From the point of view of forks, the price should test the equilibrium channel, and this is the $ 31 zone.
- If you look at the trend channel, the price is at the lower border of the channel and an increase up to 27.5 is possible.
I think there are enough arguments for growth.
- The price is in the zone of long-term support (since 2018).
- From the point of view of waves. We have completed the 3rd correction wave and now there should be a rebound within 4.
- From the point of view of forks, the price should test the equilibrium channel, and this is the $ 31 zone.
- If you look at the trend channel, the price is at the lower border of the channel and an increase up to 27.5 is possible.
I think there are enough arguments for growth.