Long Position on OLLI @ $27.48 on 8/12/2016 (Momentum)

Ollie’s Bargain Outlet Holdings, Inc. (OLLI) operates as a merchandise retailer of various brand name products.

The company offers food products, housewares, books and stationery products, bed and bath products, floor coverings, hardware products, and toys; and other products, including electronics, personal health care, candy, clothing, sporting goods, pet products, luggage, automotive, seasonal, furniture, and lawn and garden products.

As of May 9, 2016, it operated 208 Ollie’s Bargain Outlet retail stores across 18 states in the United States across 16 states, including Alabama, Delaware, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia.

The firm is scheduled to report its quarterly results on August 30th. Ahead of that shares have formed a bullish "double bottom" formation and higher share prices are expected for this stock.

52-Weeks Trading Range: $14.88 - $28.72

Entry Point: $27.48

Stop Loss: $26.00

Target Price: $30.30

Position closed on 9/12/2016 at price of $25.00 with a -9.02% loss in 30 days.

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