THE MAIN REASON TO WHY THE STOCK FEEL MORE THEN EXPECTED WAS BECAUSE EARNINGS DID NOT BEAT LAST YEARS BUT THEY ARE STILL POSITIVE. THEY ARE A PROFITABLE COMPANY BASED ON THEIR FINANCIAL STATEMENTS, CASH FLOWS, AND BALANCE SHEET.
INDICATORS:
RSI: IT IS AT 34, WHICH IS REALLY LOW AND IS HEADED UPWARDS SINCE IT WAS AN OVERREACTION. THE COMPANY WILL EASILY GO BACK...
Huge sell off with Levi's today after release of earnings. Reaching a strong support at $20.50 this could be a great potential dip buy opportunity for 5% return. Wait for confirmation with higher highs and higher lows on lower time frame before entering.
Earnings approach tomorrow and they are anticipated to be OK nothing exciting but ok. In the current market that will probably be enough to meet investors expectations, but worresi do persist about the lack of innovation within the brand to attract a more diverse customer base.
Guggenheim analyst Robert Drbul maintained a Buy rating on Levi Strauss & Co (LEVI)...
There is no need to rush into LEVI, we think sentiment about the brand has taken over from common sense. $21 seems like a good target for us to reassess our stance on the stock. Analysts have pilled into the stock today but with quite a mixed bag of views, which reaffirms our bias to remain on the sidelines.
