NAKD Revival Pattern Huge Risk Reward
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I'm starting to really like NAKD for a revival play after a significant double bottom off the 200-day moving average around $0.48. There is now a clear defined risk-reward with a stop below the double bottom low.
Technically price is showing signs of recovery with the 200-day moving average holding nicely resulting in a strong double bottom and higher lows since then. Additionally, the 20-day moving average has recently crossed over the 50-day.
Fundamentally this company recently received shareholder approval to fully divest from its brick-and-mortar interests and pivot to pure e-commerce. They are also sitting on 270m of cash and no debt which means they are well-positioned to make strategic investments and acquisitions.
On a news catalyst this can easily run to $3+, but of course trade your plan and take profits when it makes sense for you.
Technically price is showing signs of recovery with the 200-day moving average holding nicely resulting in a strong double bottom and higher lows since then. Additionally, the 20-day moving average has recently crossed over the 50-day.
Fundamentally this company recently received shareholder approval to fully divest from its brick-and-mortar interests and pivot to pure e-commerce. They are also sitting on 270m of cash and no debt which means they are well-positioned to make strategic investments and acquisitions.
On a news catalyst this can easily run to $3+, but of course trade your plan and take profits when it makes sense for you.
Nota
Full disclosure, I'm still holding. In fact, my entry is even worse than this trade setup. My cost average is $1.15 and I'm holding for a second run.
Penafian
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