ashainp
Long

$SKX (Skechers) LONG

NYSE:SKX   SKECHERS USA INC
SKX calls @28 OCT 16 2020

Thesis as follows,

Holding previous daily level resistance as support
RSI 4h,1H Buy signal
Bollinger bands bottom
Wedge and trendline bottom
Holding 0.382 Fib
Fundamentals ✅


More sensible to wait for a turnaround in sentiment as I risk more downside but this is a kangaroo market.

If this was a trade I would,
Exit : $30.2
Stop loss: $25.7

Comments

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