Michael Kors charts seems in the middle of a 3 wave correction on the daily timeframe. I'm expecting the completion of this potential expanding flat before one more wave up. Bearish divergence and gap to fill.
Michael Kors (KORS) has had an impressive 6 months skyrocketing up in its price from just over $30 to $65+ now . That's (almost) more than a 100% increase in six months (depending on your entry price). Stating it as an annualised return is stupid but it's fun to just say that that would mean just under or over 200%.
In any case, the run up has been great. But...
Michael Kors (KORS) is a company that has been on my radar for a good quarter. Ever since the retail apocalypse, many retail stocks continue to pop up on my screens in my search for deep value. KORS is an interesting play, and I will have a detailed write up on it on my investing blog (rockvuecapital.wordpress.com) within the week. But for now, lets look at the...
