SMPL long - Goldman Sachs upgrades to Buy w/ conviction
SMPL looks great on paper. P/E is over 70, market cap is over 2B. Beat earnings estimates 3/4 quarters in 2019, and also 1st quarter 2020.
Goldman Sachs just issued an upgrade, from Buy - to Buy with Conviction.
Technical analysis, this is hitting a long term Fib level of 50% for the 3rd time, possible triple bottom formation. Very strong support at this level.
Stop loss under $21.00 (-10%), Target will be just under $30.00 (+30%) for a long term trade, and $25.00 (+10%) for a shorter term trade, where the price may consolidate and form a base.
Daily Chart w/ Fib levels:
Goldman Sachs just issued an upgrade, from Buy - to Buy with Conviction.
Technical analysis, this is hitting a long term Fib level of 50% for the 3rd time, possible triple bottom formation. Very strong support at this level.
Stop loss under $21.00 (-10%), Target will be just under $30.00 (+30%) for a long term trade, and $25.00 (+10%) for a shorter term trade, where the price may consolidate and form a base.
Daily Chart w/ Fib levels: