swara7kadir

SFIX good day trade on either side but more bullish

Long
NASDAQ:SFIX   Stitch Fix, Inc.
SFIX has an interesting daily chart, currently it has gaped up above all its major moving daily averages. Looking at the 5 min chart, you can see that its making lower highs and is showing weakness, but it has got a lot of support to got through, so I am more inclined to take it for a long if it starts showing strength and gets above its vwap and 20 ema. I would go long on it as that stage and add to it if it clears the 32.22 daily pivot that I have drawn. This long setup would work if the SPY works in favor and stays above the 20 ema daily.

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