SAFM has reached the support level 1 today, as of now the LOD is $75.30. If I'm accurate, and if the volume starts to pick up, we're in for a bounce off that level next week.
$75 to $85. Stuck in that range until volume picks up substantially. Trading +/- 500,000 shares daily, short interest is pretty patient. It's time for believers to get out their checkbooks and buy some shares.Summer is a pretty good time for chicken.
Sorry to tell you that YOU are wrong. I have no current position in SAFM, and if you could understand the language, you would have read that I was just expressing an opinion. That's what JMO stands for, just my opinion. I'm sorry for your judgemental attitude, and hope you can find some happiness.
It could see mid 70's or mid 80's short term. JMO, but I see a re test at $80 after this mornings flush down to $79.16 level. A break below could move it to $75, which might be the mark that short sellers are looking for, but they are pretty happy right now if they were short at yesterday's close @ $84.50.
He stated he already "cashed out", so he can't sell covered calls. You have to own the shares in order to sell covered calls.
There doesn't seem to be any verifiable news story that I can find, that would cause this drop in share price. It is not specifically a UAL issue, since that other major carriers are showing the same "general" price action. (DAL, AAL, LUV, etc.).
JMO, but whatever the reason, appears to be "just noise". The daily ATR on UAL is over $2, so even though it's currently trading at twice that level, it doesn't seem to be out of the ordinary at this point.
$56.70 is the high that MO is setting up to challenge. Once it passes the 50 day at $52.96, it should be easy to get there.
Hold on for the ride, cuz things are looking like the share price is headed to challenge that 05/13 high, and may even see PAR later this year. Nice, very nicely managed company with shareholder value always in play. One of the best sin stocks as far as performance goes, JMO.
Sentiment: Strong Buy