Another Bullish Flag and break outThree steps forward, one step back. Looks like to me another bullish flag had formed and now today we look like we are breaking out of the pattern. Eyeballing the pattern she seems to me to be pointing to 20.00ish.
I hope they are able to sell the scallop biz (that came with American Pride acquisition) this quarter or somehow get it generating some cash. This weekend I saw some good sales on at Loblaws of High Liner products which should help their volumes this Q.
Currency exchange will continue to be a drag. As they have made no move to list on the NYSE, it is just plain stupid to report in $USD. The CAD could be down for a decade and this move to $USD reporting will continue to hamstring their result with NO BENEFIT. Henry Demone made this move and as Chair he probably will continue to push to keep it. However he should just admit it was a bad idea and ditch it. This simple move I think would send the stock up 20%.