Stitch Fix Tags Major Support: Here's The Buy
InTheMoneyStocks.com | Dec 11, 2018 05:43PM ET
Shares of Stitch Fix (NASDAQ:SFIX) collapsed over 25% Tuesday on the back of poor earnings/guidance. The stock now finds itself trading below $20, down from a 52-week high of $52.50. While it appears to be doom-and-gloom, there is some major light for technical traders. Stitch Fix tagged a major pivot-low from June 2018 at $18.40 Tuesday. This pivot-low signals a likely flush out of weak hands and the bounce signals accumulating by smart money. It would not be far fetched to see Stitch Fix trade back to $25 in the coming months.
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