Added shares of ZUMZ on Friday 1/27/17 at 19.30 and then again at 18.95 bringing my average to 19.60. ZUMZ opened at 19.45 which was the high and had a low of 18.35 on Friday. Not loving the price action at the moment after hard selling on Friday, but ZUMZ managed to hold above the Tuesday 1/24/17 low of 18.20 which is my stop area. Initiated the ZUMZ position on Wednesday 1/25/17 after continuation through Tuesday’s high and since then we’ve seen nothing but selling pressure. Expecting the stock to bounce off the low 18’s and continue higher, but if it fails then cutting my loss and moving on.
- 1/30/17 update- Down day in the market- Good price action for ZUMZ