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Stitch Fix, Inc.Stitch Fix, Inc.Stitch Fix, Inc.

Stitch Fix, Inc.

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SFIX trade ideas

SFIX - (up) Trend to continue after gap fillSFIX gapped down strongly on 8 March after earnings, leaving a lot of suffering bulls who had betted on the wrong side of this earning. The stock finally hit a low on 11 May and began it's recovery, cummulating to a strong gap up on 7 June, this time on earnings exceeding expectations. However this gap up was right where the prior gap (down) got filled. Those long suffering bulls who had previously betted on the wrong side of earnings saw it as their chance to exit at breakeven or smaller losses. This pushed the stock back down until the most recent gap (up) got filled @ 57.94 (support). Having establised a support at 57.94, it's now safe to bet on it's uptrend continuation with initial stop loss several ticks below this support. Short term traders can consider to scale out at the 100% and 161.8% extension levels. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NASDAQ:SFIXLong
by Juliac
2
SFIX UpdateThe only reason why this is moving up is because of the market wide short squeeze. I expect this to fill one gap or the other.... I'm bearish because this is a money losing company with no path to profitability. Even garbage companies like OSTK and W managed to become profitable during the pandemic, this one still loses money. If they're losing money when everyone's ordering online with stimulus money, how are they going to make money when there's no stimulus? This stock will head down to $15 eventually, just a matter of when.... BTW, MFI and RSI both hit overbought and are coming down. Good luck Monday.
NASDAQ:SFIX
by hungry_hippo
3
$SFIX Nothing good happens below the daily 50 MATechnically, the chart looks ugly for SFIX. No recovery in sight as it still finds price action right at the gap down VWAP and very close to the March low's VWAP. It has struggled to for any sort of decent wedge or flag, and the candles look no better. The 21 to 8 EMA cross has not been reclaimed and it doesn't look close yet. If that low wave 5 put in the last few days is the end of this impulsive move down, then I expect SFIX to drop below to hit the 1.618 to initiate a corrective wave pattern, using wave (e) as a minor A, and the recent highs as a minor B, then the fib below should follow. Add to TA that the CEO recently stepped down into an executive chair role and how insiders have been selling since last year, it does not look good at all. It wouldn't surprise me to see a gap fill during a market correction, which could happen as soon as next week. I will be adding shorts below 48.81, putting in lower lows in this downtrend.
NASDAQ:SFIXShort
by Modus777
SFIX Short PutSFIX gap down following disappointing earnings and not-so-bright forecast for the next quarter. Same thing happened with INTC twice over the last year and we saw how it was just an over-reactionary sell-off as it quickly rallied up after a continuation sell-off for a week or so. SFIX's fundamentals are solid assuming that shipping problems don't disrupt the business too much. It will most likely close the gap at around 42. It might also pull down a little bit more, but hopefully it won't go below $34. It gives us a decent range from $34-$42 to accumulate the stock. There is also heavy support around the $41.5 area with both a supply/demand zone along with the 200-day SMA. Trade Ideas: Shares: Accumulate between $34-$42 . SL below that if it does continue to fall further, which is unlikely but make sure the SL isn't too close to the bottom support. We should see a push up to $53.75, $65 and $72.5+. Short Put: Medium Risk: 35 Strike for $0.85-$1 Cr. Aggressive: 40 Strike for $1.65 Cr. This can help you reduce your cost basis by at least $0.85 to $1.65 per share if you do get assigned. If you don't get assigned or the stock never dips that low, you get to keep the premium. It also only requires $385/$425 Buying Power which should yield a nice 22%/38% max ROC. In either case, assuming you have at least 1 lot of shares, you can always sell 70%-80% OTM covered calls for more passive income while your stock appreciates.
NASDAQ:SFIXLong
by punitarani
Stitch Fix After Earnings: Levels to WatchAmid yesterday's tech rally, SFIX opened the session gapping down about 24% after reporting a surprise Q2 loss and lowered full-year guidance. Notably, this drop sets the focus on the previous all-time high of $52.44 set in 2018. During the first minutes, the shares tried to break above this watermark, but ended up closing the session below $50. In the near term, it will be interesting to see if bears succeed in pushing the shares below the yearly pivot point (PY, $47.28). Apparently, this level was appreciated during yesterday's session. This breakdown will support bearish sentiment and put the 200-day moving average in play as possible support. Further decline might eventually lead to a gap fill at $35. This would drag the share price down about 27% from yesterday's closing price. However, after an overall 57% fall from the all-time high set in January, such a sustained downside move does not seem too unlikely. On the upside, I’ll be watching to see if SFIX succeeds in breaking the 2018 high of $52.44. A crossing above this level would signal a possible return in bullish sentiment. This will bring the $60 zone with the 100-day moving average as resistance on the way towards the potential gap fill at $67.
NASDAQ:SFIX
by tbiktag
2