Amid 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 ifSFIX 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.
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.Ghi chú
After consolidating between the PY pivot and the 2018 high for a few days, SFIX has broken out of that range and has the chance to test the 100-day moving average / the SM2 pivot level.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.