wrby

Can You "See" the Warby Parker Breakout:

• As the XLY is now the best acting major S&P sector on a 1, 3, and 6-month lookback period (skewed because of the enormous strength in AMZN and TSLA) if one looks under the hood they could witness some strong moves. Today we take a look at a prior, updated, and MONTHLY timeframe on Warby Parker. The next paragraph is how we originally looked at the stock 3 weeks ago.

Recent Examples:

• Turnaround plays are popping up as the market rebound gains some steam. These types of events take time and a good example of one could be the chart below of WRBY and how it appeared in our 10/22 Consumer Note. Wednesday snapped an 8-session win streak and volume has been strong and it is trading right near 52-week highs. This week headed into Thursday is up 8% and that would be after last week gained 12%. Some more strength to end this week would be its fifth double-digit WEEKLY gain since the start of August alone. If it could achieve a double-digit WEEKLY gain this week the last time that occurred was a combined 29% advance in the weeks ending 5/10-17. The big move of 10% on 10/21 came following the GS upgrade. I did not want to chase and waited for a pullback toward the double-bottom breakout.

• On its updated chart here one can "see", pun intended, the break above a bullish inverse head and shoulders pivot of 18 which carries a measured move to 23.50. Keep in mind the measured moves are not science at all. They will often be achieved but have investors selling prematurely. Use them to trade around core positions. Notice the volume has been powerful with last week's advance of 12% was the fourth strongest WEEKLY volume in the last year and it CLOSED at highs for the range. 

• The best part is the accumulation during the last 5 months, a certain footprint that institutions are getting involved. On its MONTHLY chart, it is looking for its first CLOSE above the very round 20 number since May 2022. It did touch 60 not long after coming public in Q4 '21. Notice how very round 10 number for the last 2.5 years was a solid floor building a foundation. March and November 2023 but both CLOSED above (April 2023 was a doji which was a good sign selling pressure was exhausted. 

 

Thanks for reading and good luck.

Can You "See" the Warby Parker Breakout:

• As the XLY is now the best acting major S&P sector on a 1, 3, and 6-month lookback period (skewed because of the enormous strength in AMZN and TSLA) if one looks under the hood they could witness some strong moves. Today we take a look at a prior, updated, and MONTHLY timeframe on Warby Parker. The next paragraph is how we originally looked at the stock 3 weeks ago.

Recent Examples:

• Turnaround plays are popping up as the market rebound gains some steam. These types of events take time and a good example of one could be the chart below of WRBY and how it appeared in our 10/22 Consumer Note. Wednesday snapped an 8-session win streak and volume has been strong and it is trading right near 52-week highs. This week headed into Thursday is up 8% and that would be after last week gained 12%. Some more strength to end this week would be its fifth double-digit WEEKLY gain since the start of August alone. If it could achieve a double-digit WEEKLY gain this week the last time that occurred was a combined 29% advance in the weeks ending 5/10-17. The big move of 10% on 10/21 came following the GS upgrade. I did not want to chase and waited for a pullback toward the double-bottom breakout.

• On its updated chart here one can "see", pun intended, the break above a bullish inverse head and shoulders pivot of 18 which carries a measured move to 23.50. Keep in mind the measured moves are not science at all. They will often be achieved but have investors selling prematurely. Use them to trade around core positions. Notice the volume has been powerful with last week's advance of 12% was the fourth strongest WEEKLY volume in the last year and it CLOSED at highs for the range. 

• The best part is the accumulation during the last 5 months, a certain footprint that institutions are getting involved. On its MONTHLY chart, it is looking for its first CLOSE above the very round 20 number since May 2022. It did touch 60 not long after coming public in Q4 '21. Notice how very round 10 number for the last 2.5 years was a solid floor building a foundation. March and November 2023 but both CLOSED above (April 2023 was a doji which was a good sign selling pressure was exhausted. 

 

Thanks for reading and good luck.