A few decent stories in the background has someone interested, mopping up anything under 53
Nice bit of volume coming thru this AM, decent bites into 520
STT target in red
Holding
From the Sydney Morning Herald, "An Australian baby formula company has sealed a mega deal to send more than a million tins to desperate parents in the United States, with President Joe Biden spruiking the deal on Twitter himself."
“I’ve got more good news: 27.5 million bottles of safe infant formula manufactured by Bubs Australia are coming to the United...
Some scenario's I'm watching for BUBS. I'm hoping to get in for a potential long term hold based on growing revenue, increasing profit margin and potential long term growth.
See chart for further details. The next few weeks will hopefully provide us the data to make our decision.
Bub has consolidated over the period from highs. New financial year, with selling drying up. Buyside building. Watch to resume uptrend with news due from recent agreements from Large supermarkets. Expect increased sales of product locally.
I'm not interested in a long position in Bubs unless we can close above the green line. $1.05.
Risk to reward is not good. If we close below 93-94 cents next week, it will drop fast toward the 200 ma. (red line)
Trade the trend, "the trend is your friend".
All three indicators MACD, RSI and CMF are pointing downwards which tells me this stock can break the support line.
Thus, going down fast!
We could go as low as 85 cents at this stage.
A good buying opportunity coming soon.
I will keep it on my watchlist.
Due to oversees markets, the ASX 200 could be pointing lower today so risk off. This is why i'm looking into consumer staples stocks such as BUB, on the weekly it's on a up trend so looks good for future run up and on the daily it has a nice pull back on the 20 EMA. It also hit a key levels on fib levels as well.
This stock is over extended big time, looking to short to the down side. Reason: it's out of its 2 standard deviation, the EMA are struggle to catch up with it and its at a new high as well. Looking to counter trend.
