Announced that on July 20, 2022, the Company entered into a definitive agreement (the “Agreement”) with All Seas Global Limited to acquire 100% equity interests in Tokyo Lifestyle Limited (“TL”) for approximately US$2,805,192. Agreement was approved by the Company's board of directors at a meeting on June 27, 2022, with the closing expected to occur by the end of July 2022.
While on the flip side the news was both a good catalyst, however ended up retracting & retreated to an unreasonable pullback price. Did it flop? Not really. I could have sold but to have sold for peanuts wasn't ideal or sensible play since chart shared below in the image will tell you otherwise. Today was red but SPY is to be blamed.
Good news is I don't see it going much lower than we were in its previous range. What I see happening is a rebound to 1.75-1.95 area tomorrow and then flipping to an aggressive breakout. Much like PGY's similar behavior.
Support line 1.40
secondary support line 1.50
Price target 8.00
just wait. SPY was red today as indicated. Tomorrow the sun shall rise again.
Leave a Reply