Quick Win by the Algorithm:

On August 22nd, 2017, I Know First issued a bullish 7-day forecast for Tuesday Morning Corporation (NASDAQ: TUES). The forecast showed a signal of 4.94 and a predictability of 0.22. As a result, in accordance with the forecast, the company’s stock produced a return of 35.29% over this period, solidifying another quick win by the I Know First algorithm.

Tuesday Morning Corporation operates as a retailer of upscale decorative home accessories, housewares, seasonal goods, and gifts in the United States. The company offers various products, such as home décor, furniture, bed and bath, kitchen, toys, crafts, pets, and seasonal goods, as well as home furnishings items. It also provides a range of branded merchandise, including Peacock Alley, Lenox, Waterford, and Hartmann. The company operates 750 discount retail stores. Tuesday Morning Corporation was founded in 1974 and is headquartered in Dallas, Texas.

During early August, Tuesday Morning’s stock was around the $1.80-$1.90 range. On August 13th, TUES announced that they would show the report for their fiscal fourth quarter on the 24th of August. In fear of a bad report, investors started shying away from the company and shares dipped to as low as 1.67. Then, the reporting day came and showed impressive numbers. The stock price soared 14% as soon as the market opened, and kept rising steadily since then. The share price today stands at $2.35

Positive highlights from the report included:

• Fourth quarter comparable store sales increased 1.8%; the Company estimates the increase would have been approximately 2.5% when adjusted for the Easter timing shift.
• For the fourth quarter of fiscal 2017, net sales were $223.6 million, an increase of $0.8 million from the prior year period.
• Reduced outstanding revolver borrowings by $10 million compared to the third quarter of fiscal 2017.

Current I Know First subscribers received this bullish TUES forecast on August 22nd, 2017. 

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.