Shares of Fossil Group Inc (NASDAQ:FOSL) have been caught, like every other brick and mortar retail company in some heavy selling pressure. Sales appear to be in a continual spiral as shoppers move online. Sentiment is overly bearish which is why I am looking for a long trade. Stocks like Sears Holdings and J.C. Penney have all been hammered. However, aggressive...
FOSL looks primed for a pop here out of an ascending triangle into gap. Price currently above all but 200 dmas.
Positive divergences shown on RSI and MACD.
MACD cross zero line to upside, while RSI holding the 50 line.