1-800-FLOWERS.COM, Inc. operates a florist and gift shop in the
United States. The company operates in three segments: Consumer Floral,
Gourmet Food and Gift Baskets, and BloomNet Wire Service. It offers
various products, such as fresh-cut flowers, floral and fruit
arrangements and plants, gifts, popcorn, gourmet foods and gift baskets,
cookies, chocolates, candies, wine, candles, balloons, and plush
stuffed animals. The company provides gourmet gifts, such as popcorn and
specialty treats from thepopcornfactory.com; cookies and baked gifts
from cheryls.com; chocolates and confections from fanniemay.com and
harrylondon.com; gift baskets and towers from 1-800-BASKETS.COM; carved
fresh fruit arrangements from FruitBouquets.com; steaks and chops from
stockyards.com; and invitations and personal stationery from
FineStationery.com.
Take a look at the 1-year chart of Flowers (Nasdaq: FLWS) below with my added notations:
Over the last few months FLWS has created a key trendline of support
(green) at $7.30 and that line is also the “neckline” for the stock’s
head and shoulders (H&S) reversal pattern. Above the neckline you
will notice the H&S pattern itself (red). Confirmation of the
H&S would occur if FLWS breaks its trendline support, while a move
above the $8.50 resistance would negate the pattern.
The Tale of the Tape: FLWS has formed a head &
shoulders pattern. A long trade could be made at $7.30 with a stop
placed below that level, but ideally, the pattern implies a short trade
to be entered on a break below that level instead.
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