Analysts have been wondering if food-related stocks, like Grocery Outlet Holding Corp. (GO), are going to be impacted by the soaring popularity of weight-loss drugs, like Ozempic and Mounjaro, that have captivated Wall Street during 2023.
While there has certainly been volatility in the sector, the Predictive Alpha system is predicting a rebound up from support as inflationary pressures ease and the Federal Reserve prepares to start cutting interest rates.
Set a limit order to buy Grocery Outlet Holding Corp. (GO) for $28.48 or less.
GO's share price was $27.72 when the signal was generated on Jan. 3.
We expect GO's target price of $29.73 to be reached by Feb. 1, 2024 (21 trading days from today).
If the stock reaches the price target within 10 trading days, we may recommend allowing the trade to run further. If market conditions justify a change, we will send you an alert at that time advising you of a new price target and stop loss.
We will not hold this trade any longer than Feb. 1.
Trade Notes
Now, please be aware that some stocks can be volatile — especially after a recommendation is issued.
If the stock is out of our maximum buy range, we do not recommend chasing the stock. You can use a limit order for our maximum buy price and allow the stock to settle.
We recommend checking out a few of our training videos if you have any concerns about trading. You can learn…
Timing is everything when it comes to these trades, so head to your app store now, download the free TradeSmith app, and enable push notifications… because the next great trade is right around the corner!
To view the entire Predictive Alpha Prime portfolio, please click here.
Sincerely,
John Jagerson & Wade Hansen Analysts, Predictive Alpha Prime
P.S. For any questions or concerns, check out your brand-new Frequently Asked Questions page, which you can access here. Otherwise, reach out to or contact your Customer Concierge Team at 866-385-2076 or JohnandWade@tradesmith.com Monday through Friday, 9:00 a.m. to 5:00 p.m. ET. Our dedicated team will be glad to assist you.
TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
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