Which mattress company can fluff your account?

Hey Market Pilots,

Thank you to those of you who could make it to my webinar last night! It was a great turn out.
I not only showcased how I made $100K in one day on my favorite Trampoline setup, I also showed that a mattress company, Sleep Number (SNBR), has easily moved well over 100% since the lows.

If you were unable to attend last night’s webinar you can catch the replay here.

Today, I want to follow up from that idea and show another mattress company that also has my favorite setup. 

CSPR, or Casper Sleep Inc, is an online (and retail) mattress and sleeping product company. You’re probably familiar with their TV ads and how their beds arrive in a box. The commercials usually show people talking to a friend about how happy they are with their mail order bed and the friend looks puzzled by the notion of a bed arriving by mail. CSPR’s beds are of the memory foam type so they can be vacuum packed into a very dense package, boxed up, and shipped out. The new owner only has to open the vacuum bag, wait a few hours for the bed to decompress (don’t we all), and voila! A new bed.

With Covid still a thing and most likely will be for some time, plus people not venturing out to stores much, especially a store where you go lay on bed to test them out, CSPR is like the AMZN or CHWY of the mattress industry. Mail order for the win.

Funny enough, they opened right as the Covid Crash happened, which I believe could pave the way for the stock to reach at least back to its IPO price of $15 or a 70% gain. 

As far as the technical setup, the Daily chart is doing what I call a Trampoline Setup which is when price goes below the 50 SMA and the Moxie Indicator is over zero. This sets up a high pressure, high buoyancy condition that could carry the stock for quite some time. The Trampoline setup is on the Daily which makes it stronger than if this same setup were on the Hourly.

The other fun thing about this ticker is that it had a textbook Positive Moxie Divergence setup on the hourly and with volume. Granted this high volume move is relative as it was still under 400K shares today. But the setups are there, the story works for our era, and if the volume keeps up, this could be a nice little vehicle to fluff your account with.

Over and Out,

Your Profit Pilot


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