Looking for a new trade idea? Try Vista Outdoor ($VSTO). (October 07, 2021)VSTO VSTO
Vista Outdoor ( NYSE: VSTO ). This is a stock that I haven’t traded in quite a while. I was just running through a scan of my squeezes and I see that this has been grinding around right along the 50-day moving average, which is essentially flat.
This is the kind of thing I like to see because what it does is, it gives us a potential for a big breakout, boom, a big move higher. We don’t have that yet but this is a pretty simple analysis.
What I am looking at is, if the stock pops up above 42.25, which is a recent high, that’s when I am wanting to buy the stock. So I am going to be buying the stock here, 42.25, and then I am looking for at least a $45.00 handle, which really isn’t that high.
This is a sporting goods company. They carry all kinds of stuff, even the stuff that spits out lead, and so there is some demand for the product. I don’t really care about that, what I care about is, if there is demand for the stock. I would say, that if this stock starts running up above the 42.25 level, about there, that’s when I am looking for higher prices.