So far, support at 30/32.50 is holding. As you can see we have not had a weekly close below the 200 week moving average, since..., well, the chart does not show it has been so long.
From the CEO-" While we expect to continue to significantly outpace the apparel industry, the growth rate going forward will be less than expected from our Investor Day in 2015".
In other words, expectations from a year ago are not going to be met.
What to do?
In my opinion, this stock will be priced based on how they do going forward from a lowered base of expectations. Maybe they surprise to the upside next quarter?
Technically it looks like a good place to buy, but when expectations are not met, things can get messy. Have an exit plan.