Buying Pricesmart (PSMT)

I re-entered a long position in Pricesmart (PSMT) on Friday due to its price action closing out the week. Breaking above $60.50 Friday afternoon was a bullish move on the heals of its 2 week consolidation after a great earnings report:

The stock is overbought, which gives me some cause for concern. In addition, I expected the post-earnings announcement gap to be filled prior to the next move up. Nevertheless, I think it is still a strong candidate for a momentum trade but will keep my stop loss tight in case it turns against me.

Long PSMT

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