Shares of Michael Kors Holdings Ltd (NYSE:KORS) are falling to the tune of over 7% today, as the retailer came out with earnings
. The earnings
themselves were not too bad, but it was the guidance which was disappointing to the street. This company is one of the retail darlings and is considered the hot name when it comes to fashion as it has taken a ton of market share from its competitors. With Michael Kors Holdings Ltd (NYSE:KORS) stock on sale today, I have isolated two levels on the charts where the stock can be bought for a potential intra day bounce in its share price. The first area of support would be $74 and the second would be around $70.55. The stock has already had a nice bounce off the pierce of $76 level where there is a ton of weekly chart support. Keep the levels on your charts as they will provide areas to profit on the long side.
For live market insight and alerts exactly when we enter and exit positions on trades like the KORS and more... step inside the Elite Round Table and enter profitable trades live with us...just like this recent 10% winner earned in only 3 days. You can also join our FREE market moving email list to get free updates ONLY when important action is happening. We look forward to having you join us as we navigate the markets and make money!
Elite Round Table
Follow me on twitter: @ParmMannTrader
Join the Elite Round Table on Facebook