andrew.berg
Short

KORS major support break down

NYSE:KORS   MICHAEL KORS HLDGS LTD
Kors is high-growing company with EPS             for the past 5 years 130%. So, if it misses or meets with expactations on its report that will be soon on August 5th, it may frustrate investors and trigger further selling.

Technically, it pierced psychological mark $100, but failed to close above, from hwere it sold off. It found support at $86 that was recently broken with powerful gap down. Now, it absorbs this big move down and consolidates very tight preparing for break out. I am going to initiate small position here with add when it will go through $81.50. Stop above $84 makes sence, then we have resistance (previous support) at $85.66 where 200 EMA is situated.

$65 should be big level of support, because after broke up one year ago it caught nice follow through to its highs.
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