ZBRA is highly rated fundamentally, and despite an ER miss in 18Q4 was propelled, after three years up into the upper band of a pitchfork channel. Another ER miss on Apr 30 caused a pullback, exactly to the centre (ie the lower band of the upper channel). The RSI pattern is reminiscent of Dec 18, and it is possible that the price will fully recover.
Allowing for a little more fading (RSI is not quite at 30), an entry of 198 for 241 with a 184 stop below the Nov 18 high as support gives a 3.07:1 trade.
Reasons : Pitchfork / RSI / Fundamentals, essentially a trend trade.
Allowing for a little more fading (RSI is not quite at 30), an entry of 198 for 241 with a 184 stop below the Nov 18 high as support gives a 3.07:1 trade.
Reasons : Pitchfork / RSI / Fundamentals, essentially a trend trade.
David Atherton