written by reader PAR — buy point?

By BigBrain, March 4, 2021

Hello,
Wondering if anyone has thoughts on a good entry point for Par — Travis’ last thoughts on this were “nibble around $35” — is this still the case?

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bunion132
Irregular
March 4, 2021 5:48 pm

His judgment call to “nibble” at $35 goes back to Oct 2020, which was very likely correct as that was around the price range that the stock was in some 5 months ago. However, PAR has done quite well since, doubling up until this current brutal correction. Looking at its chart, PAR often follows a “head and shoulder” pattern and seems to be completing the right shoulder just about now. So in my biased opinion (since I like this stock and am getting somewhat antsy waiting for it to turn back up), I would consider rebuying in the $69-ish range.

However, a saner, more disciplined move would probably be to repurchase somewhere in the $61-ish range. Why? Because there was a gap in price last June 12-13 in this range. In technical analysis, gaps tend to fill.

Last edited 4 months ago by bunion132
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