I'm starting to really like NAKD for a revival play after a significant double bottom off the 200-day moving average around $0.48. There is now a clear defined risk-reward with a stop below the double bottom low.
Technically price is showing signs of recovery with the 200-day moving average holding nicely resulting in a strong double bottom and higher lows since then. Additionally, the 20-day moving average has recently crossed over the 50-day.
Fundamentally this company recently received shareholder approval to fully divest from its brick-and-mortar interests and pivot to pure e-commerce. They are also sitting on $270m of cash and no debt which means they are well-positioned to make strategic investments and acquisitions.
On a news catalyst this can easily run to $3+, but of course trade your plan and take profits when it makes sense for you.
Technically price is showing signs of recovery with the 200-day moving average holding nicely resulting in a strong double bottom and higher lows since then. Additionally, the 20-day moving average has recently crossed over the 50-day.
Fundamentally this company recently received shareholder approval to fully divest from its brick-and-mortar interests and pivot to pure e-commerce. They are also sitting on $270m of cash and no debt which means they are well-positioned to make strategic investments and acquisitions.
On a news catalyst this can easily run to $3+, but of course trade your plan and take profits when it makes sense for you.
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Full disclosure, I'm still holding. In fact, my entry is even worse than this trade setup. My cost average is $1.15 and I'm holding for a second run.