Petmed Express Inc (PETS) Sinks After Earnings, Watch This Trade Level

Petmed Express Inc (PETS) is a leading pet pharmacy that offers prescription and non-prescription pet medications, and other health products direct to the consumer. The stock is trading lower by 12.4% to $30.40 a share after reporting earnings. Obviously, the street was not impressed by the earnings report. Petmed Express reported Q3 (Dec) earnings of $0.38 per share, in-line with the two analyst estimates of $0.38; revenues rose 10.0% year/year to $65.9 million vs the $63.81 million. The stock is now trading below its 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts and often signals further declines ahead for the stock.

The next major support level for Petmed Express (PETS) stock will be around the $26.00 level. This is where the stock has a major retrace level which should be solid support. There is also the 100-week moving average at $26.06 level which should act as major support for the stock when tested. Since the stock trades less than a million shares a day on average I would play Petmed Express (PETS) stock with call options when the stock tests this support level.

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.