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MichaelGLamothe
Jul 31, 2015 12:24 AM

SKX done for now? 

Skechers U.S.A., Inc.NYSE

Description

SKX gapped up today to fresh all-time highs after reporting earnings. It closed just under $150. Since SKX initially broke out of the 3 weeks tight pattern we highlighted on the Ready List back on 4/18, it has more than doubled in price. With this being a potential exhaustion gap (largest daily price advance on heavy volume) its possible that SKX may need a breather. If it does pull back, we’ll want to see if bulls show up to defend todays low of 139.51
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