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Industry: Consumer Products-Misc Closing Price: 31.73
P/E: 15.3 Avg. Vol.: 654K
Company Profile: Tupperware
Brands Corporation manufactures and sells a broad line of consumer
products for the home. The Company's Tupperware products include
food storage and other containers, as well as a line of children's
educational toys, serving products, and gifts. Tupperware's products
are distributed worldwide primarily through the direct selling
method of distribution.
Chart Setup: Pristine Breakout (PBO)
after Professional Gap (Pro Gap). TUP opened with a Professional Gap
(Pro Gap) last Wednesday and closed with a Bullish Wide Range Bar (+WRB)
breaking out above prior pivot highs. The price traded during the
last 3 sessions in the upper 1/2 of the +WRB and leaving relatively
equal highs suggesting consolidation. We'll look to buy TUP if it
trades above the highs of the last 3 sessions looking for a
continuation of the PBO. Tip: Since
today we're expecting the FOMC decision on interest rates at 2:15PM,
our entry will only take place after the announcement.
Trading Strategy: We'll look to
buy TUP if it trades above 32.50 after 2:30PM EST, placing our
protective stop under 30.89. We'll look for a $2.00 to $3.75 move.
SPW Update: OMCL was invalidated
due to an excessive move in the first 5 minutes of the entry day
which took the price beyond 50% of our first target. The last 1/3 of
GVHR remains open with a daily trailing stop (Current is 14.57)
Excellent trade!
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