Very nice trendline breakout from SKX after a double bottom on support from the gap and the 50 EMA.
Break out the downtrend line and the soaring just started! wonderful chart
Break out the downtrend line and the soaring just started! wonderful chart
This will be the beginning series of my failed trades that will act as my trading journal. Will be posting these to learn from my mistakes. Failed trade #1 SKX: Mistakes made: 1. Failed to recognize resistance zone and take profits at that zone. - Make sure to expand your chart so you can see the stock from the BEGINNING. Set chart to monthly/weekly time frame...
Look out for confirmation, we have seen recently with the Sketchers SKX stock that the gaps tend to get 50% filled, so this could mean a possibility to short this stock in the next few days. RSI is very oversold today. Let me know what you think in the comments, like the idea if you agree, and follow me for more tips like this.
It is looking like SKX wants to take a rise. It has been on a rise since 2016 and then it suddenly took a massive gap down. The stock is going to rise back up to fill in the gap. Look to buy soon, then look to sell when it nears the resistance line, because it will then be inside of the upward trend that it has been on for so long.
SKX 2.55% has been on a trend upward since the end of 2016, and its not breaking now. The Q2 earnings went well and there is a massive gap that will be filled soon. It was severely over sold on the gap down and now if you look at the MACD it shows a bullish cycle ready to begin. The support line at 21.20 may be hit again before it goes back up but be on the...
The price could have topped here within a large sideways correction wave X (yellow). The wave C (white) is already larger than the wave A. The target is highlighted with the white rectangle. Previous low at the 18.81 could be aimed first. The 78.6 Fibonacci retracement level (13.15) could be the optimistic goal.
SKX is getting in buying zone. Two Fibonacci projected targets as shown. GL.
SKX have been trading for the few days between 24,85 and 25,6 respecting a channel from 2016/10/21. Today we see a possible breakout. If daily candle ends really bullish with a good volume, we could wait for a pullback to support 25,6 to enter long. KL: 25,6 SL: 24,85 TP1: 27,6 TP2: 28,5