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Winmark adds three new stores as stock edges higher
Winmark welcomed three new stores to its portfolio, adding locations for its Once Upon A Child and Play It Again Sports brands. The stock edges higher on the day, trading at $328.59.
Highlights
- Winmark added two Once Upon A Child stores in Oklahoma and Ohio and one Play It Again Sports outlet in Wisconsin.
- 2 of 2 covering analysts rate Winmark stock a buy, and the median price target is $545.
- Winmark stock edges higher on the day, trading at $328.59.
Winmark has added three new stores to its portfolio. The recent openings include two Once Upon A Child stores, located in Owasso, Oklahoma, and Lyndhurst, Ohio. The expansion also features a new Play It Again Sports outlet in Fox Point, Wisconsin.
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Bearish setup holds as early gains reverse below key moving averages
Shares of Winmark opened the session with a gap up from the previous close at $326.08 to $329.47, but have since given up part of that gain. The price remains below its MA-20, MA-50, and MA-200, maintaining a bearish daily structure. The nearest support is the weekly low of $323.26. RSI at 36.5 is nearing oversold territory, suggesting the decline is starting to look stretched.
Downside risk dominates as probabilities skew heavily lower
To gauge whether the recent development is reflected in the price, traders should watch for movement relative to $345.01 on the upside or $323.26 below. At the open, price jumped from $326.08 to $329.47 before retracing a portion of that advance. An emerging move lower over the past week is present but has not yet been confirmed; still, from here the downside probability is more than 80% and the upside probability is less than 20% for the coming trading week, with an expected range of $318.86 to $338.31. A close above $345.01 would demonstrate buyers are willing to follow through, while a drop below $323.26 would show the move is being rejected. On the weekly chart the longer-term picture stays negative.
Previously it was reported that Winmark’s extension of its partnership with Rawlings and Easton came as technical conditions remained broadly bearish. The recent addition of three new stores offers incremental growth, but with the prevailing downside risk, traders should monitor whether price action holds above $323.26 support in the coming sessions.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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