Thursday, September 20, 2018 11:45:35 AM
Stitch Fix Inc (NASDAQ:SFIX) is an online personalized styling service company that has been a major winner in 2018. The stock made a short term top a couple of days ago at $52.44 a share. Since that high pivot, the stock has tumbled by over $12.00 and is currently trading at $40.30 a share. The decline has occurred with higher than normal volume which indicates institutional selling. The daily chart would indicate major support for the stock around the $34.00 area. This important level is where the stock broke out of a sideways base in August and will likely be support when retested. Remember, past break-out levels will often serve as solid support levels when back-tested.
Nicholas Santiago
InTheMoneyStocks
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