Stock price when the opinion was issued
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The target price was raised today by RBC and National Bank. There was a story that retailers are accelerating shipments to secure adequate supply. This may point to strong sales. Unlock Premium - Try 5i Free
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. 2022 Guidance maintained. Strong pull-forward in demand. Supply chain issues curbed. Initiated first ever dividend. Unlock Premium - Try 5i Free
Big pullback, then a double bottom, sideways trading, then stock broke out. Negative news today, but it's still holding in sideways trading channel. As long as we don't break below recent lows in the range, chart shows higher highs and higher lows, an uptrend. Now in sideways consolidation, a "pennant" in technical terms, which typically results in a continuation of the move. Add on weakness, limit exposure near the recent lows.
This was in a super-duper nice up trend, and then started to break down. There was a low of around $32.50 in November, and it tested this in December, and then it broke down below. Because it is a relatively short-term chart and it is breaking down, he would be a little bit concerned about the stock. You don’t like to see a breakdown from a longish uptrend, so he would probably avoid this for now.