Pier 1 Imports Inc : Perfect timing to aim a technical rebound
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$19.07 | $0 | $18.4 | -100% |
Currently the stock is oversold and, in the mid-term, is trading in a neutral trend. Only the breakdown of the USD 19 will give a bearish signal in the mid term. In the short term, this trend should be reversed upon contact with the USD 19 area. Pier 1 Imports should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 21.5.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Pier 1 Imports in a good timing. The potential gain is around 12%. Investors might place a stop loss order at USD 18.4 in order to avoid important losses.