Stitch Fix Stock Chart Analysis: Multi-Factor Buy

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Feb 17, 2021 at 1:20 PM EST

Shares of Stitch Fix Inc continue to sell. The stock is now down from its recent all-time high of $113.76 to $77.30.

Shares of Stitch Fix Inc (SFIX) continue to sell. The stock is now down from its recent all-time high of $113.76 to $77.30. This collapse comes on the back of investors deleveraging and selling a stock that was far too pricey when looking at revenue and earnings. Stitch Fix stock chart analysis says there is a multi-factor support level approaching at $72.35.

The multi-factors are the former pivot high from December 2020 and the daily 50 moving average. These two levels converge and give major support at the $72.35 price. Look for a swing trade bounce in the stock off this level, perhaps as high as $85.00. The Stitch Fix stock chart analysis is classic and a high reward to risk quick trade setup.

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