Stitch Fix (SFIX) has gapped sharply lower this Tuesday afternoon. The retailer reported a 22% growth in sales during Q2 but fell short of the consensus estimate. We do not have a long price history to work with on SFIX but let's check and see what damage may have been done to the charts and indicators.
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This reminds me of 1999 to 2000, but the big lesson during that time was that the crazy uptrend can persist much longer than seems reasonable.
While we face some absolutely insane moves, we have to ask: Where are the sellers?
All the current indicators from trend to momentum to price action sit in a bullish position as the stock breaks above resistance.
The spot market is above the $1,800 threshold.