bullish sentiment. But the slopes of emas are all negative.
The downward channel broke severely to the downside this week after KORS plummeted an additional 25% post-earnings. I think the multi-year lows of ~35/36 will be tested if not breached. Even if the stock is slightly oversold in the very near term, the trend on the technicals is pretty clear. Fundos- After a dismal earnings release and a 25% drop in the price...
$KORS is a prime example as to why you wait patiently and never jump the gun when the stock looks like its going to break out. Last November, it looked like the stock has bottomed, the MACD was crossing over and RSI spiked. Emotions were pointing to buy, but rules stated not to. The stock missed earnings, continued to fall, and most recently missed big yet again.
Technically short since last July. Let alone ema50 slope still negative.
If KORS gaps below 59.80 consider using the Retest Gap strategy. If it gaps above 63.52 consider using the Gap N Go strategy but watch out for pivot point at 65.83 and the 100sma. To get a free and complete trading education go to www.RealLifeTrading.com
Chart looks ripe for a breakout. Not to mention the boom in Michael kors brand recognition that I have been seeing on the street.
Kors is high-growing company with EPS for the past 5 years 130%. So, if it misses or meets with expactations on its report that will be soon on August 5th, it may frustrate investors and trigger further selling. Technically, it pierced psychological mark $100, but failed to close above, from hwere it sold off. It found support at $86 that was recently broken with...