Fizz SP is breaking out of 1yr downtrend after hitting Fib time series. Watch for the close, would like to see more vol for confirmation.
Heavily shorted stock, expect to see a lot of covering soon; as fundamentals do not justify the dramatic decrease.
FIZZ has been one of the most hated stocks over the last 12 months losing ≈70% market cap.
The float is over 53% shorted currently @ a ratio of 11.52
We can see that there is + divergence from march 2019 till now.
I do not expects FIZZ to stay at its current valuation for much longer considering that the PE is 37% below industry and 55% below the company's 5...
CNN has an article on how sales are slipping.
Caught my attention so I ran a quick price projection against it.
The next 9 days is looking for a price between $39.60 - $38.62
Fizz is trading between Fib levels very nicely. There seems to a fair bit of bullish sentiment on Fizz and I am willing to bite but not yet. Waiting for a break of the current downtrend or for the price to move a bit closer to the 0.786 fib.
National Beverage Corp (FIZZ) are oversold at the moment and are looking to bounce on 200ma. Parabolic SAR has moved below price. Great opportunity to get in at a good price ;-)
Whats up traders,
Couldn't think of anything to punny / funny for my title. but most of the explanation is on the chart.
I see this as 100% pure shorting alpha when the timing is right.
Have a look. . . let me know your thoughts.
Well I gave up on watching this yesterday :) . Lucky me.
In my experience this kind of shenanigan (long lower wick on weekly), and the lower end of the wick sit on the red pressure pivot) generally are bullish, but I personally just hate shenanigans and will just hold my 2019 calls. I wont add anymore.
I will still update if I find something worth sharing on this.
