PriceSmart, Inc. (PSMT), a global company that operates membership shopping warehouse clubs yesterday reported their operations fiscal third quarter 2017 financial results.

They reported third quarter earnings of $18.8 million while third quarter earnings came in at $0.62 per share. PriceSmart reported third quarter revenues of $730.3 million.  

PriceSmart Technical Analysis

(Click on image to enlarge)

PSMT opened trading yesterday at $87.30 which was down from the previous day’s trading close of $87.60. PSMT closed trading yesterday at $88.00 and spiked down aftermarket to $81.00, equivalent to a 8% decrease from the closing price. Taking a look at the daily chart we can see the last time PSMT traded below these levels we have to go back to September 29th, 2016 when it traded at $80.78.

Taking a closer look at the daily chart we can see that before the spike down PSMT had already been in an overall downward trend dating back to April 6th when it traded at $92.85. PSMT has a float of 24.48 million shares and traded 1.73 times the normal daily trading volume on Wednesday.

My stop loss would be $0.40 from my entry position fearing anything more than that and the stock would start to fill in the gap down.