Kohls reached a ATH at 64.8 and promptly did a A-B-C correction to high 40s. Since then, it is on wave 4 right now, at dual support of 50d EMA and 61.8% Fib retracement. Historically, it has respected 50d & 200d EMAs. I expect this dual support to work. In case it doesnt, expect a reaction from the 200d EMA which is quite close. Target ~ 60
Trade closed: stop reached:
The wave was working like bookwork from the 61.8% retracement of 51. But, due to a freakish news, the day ended at the July low. Need to wait for another wave formation