OLLI- Great Action Off The 50-Day
Olli's Bargain Outlet, $OLLI, has shown some nice action off the 50-day moving average recently. I really like the way it has pulled back calmly to the 50-day moving average and is bouncing here. I'm taking a position on this one for a swing trade with a stop loss below the 50-day moving average. Earnings are to be announced in late August. This is important to note since earnings are a very risky time for a stock. If it starts to turn down prior to the earnings announcement, I will be sure my risk is in check prior to the announcement to avoid the possibility of a large loss.
Full Disclosure: Olli is a stock I currently own.
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