Stitch Fix Inc Is Beyond Repair

This morning, Stitch Fix Inc (SFIX) is trading lower by 29.0% to $48.69 a share. The popular online shopping platform company for men and women failed to impress investors with their latest earning report. The stock actually topped out on January 28th, 2021 at $113.75 a share. So it is safe to say that the stock has been trending sharply lower since that high pivot. Traders should note that Stitch Fix Inc (SFIX) stock is trading below its 50 and 100-day moving averages. This puts the stock in a weak technical position on the charts.

The only area that catches my eye as solid support for Stitch Fix Inc (SFIX) is down around the $30.00 level. This is where the stock actually broke out in October 2020 from a weekly chart base. This is the only support level that would get me involved in this broken name. Until then, Stitch Fix Inc (SFIX) stock is beyond repair.   

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