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Ollie's Bargain Outlet Could Retest the 200-day Moving Avg Line - Wait for It!

Bruce Kamich

reported that comparable sales rose 0.8% in Q1 to fall short of the consensus estimate +1.5%. Adjusted operating income fell 70 bps to 12.4% of sales as a result of the deleveraging of Ollie's pre-opening expenses. In this daily bar chart of OLLI, below, we can see that prices had a quick selloff in November/December and then rallied to a new high in May. Moving into June prices pulled back to test the rising 50-day simple moving average line.