Long Position on PETQ @ $34.00 on 11/9/2018 (Momentum)

PetIQ, Inc. (PETQ) develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe.

It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

The company provides its products primarily under the VetIQ, PetAction Plus, Advecta, PetLock Plus, and TruProfen brands. It sells its products through distributors as well as through retail stores, including approximately 40,000 retail pharmacy locations.

Shares of this recent IPO have formed a bullish "double bottom" and are expected to head higher from this formation. The 200-day moving average is shown in brown. 

Entry Point: $34.00

Stop Loss: $32.30

Target Price: $37.40

52-Weeks Trading Range: $17.03 - $43.93

Updates

4/24/2019 2:38:13 PM

PETQ closed at $30.75

Position closed on 4/24/2019 at price of $30.75 with a -9.56% loss in 166 days.

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