$PLCE - Earnings This Week, Carrying 63% Short Float
$Children's Place(PLCE)$ - Earnings This Week, Carrying 63% Short Float
I’m really liking the full package we have on PLCE:
1. Share Structure: $190M market cap, 4M share float, 8.6% ADR, with an average daily dollar volume of $45M (3M shares traded). Short interest has surged to 63%, reminds me of those beaten-down meme stocks before their explosive rallies in 2021.
2. Technical Structure: The chart shows a textbook high-tight flag following a +250% rally after a +125% EPS beat from the last earnings. The price is consolidating within the flag with a 'U' shaped base, showing relative strength (RS) and trading above all moving averages. Current extension is just 1x ATR% above the 50-MA after pulling back from 15x ATR% from 50-MA.
PLCE is going into my focus list for the post ER price reaction. I'm not ruling out a position on high RVOL breakout if I could get my hands to size an entry below 60% LoD ATR on BO day beyond $16 (if it happens).
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