Levels to watch on $SKX. Lets see if it bounces off of the trend line
CROX on watch (waiting for earnings)
@ahunter1982 they sold June22 $29 calls to buy July
Call buyers give me bullish bias $SKX $NKE $UUA $FL $FINL
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...
Watch SKX for a pull back and retest of the flat top breakout point for a decent long opportunity.
With a very Strong Earnings rating from a compilation of Analysts watching this stock for a strong 2018. It happens to have an excellent Technical set up as a flat top break out 3 weeks ahead of what is estimated to be an excellent earnings report on Feb 9.
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.
If this opens above $30 at the open I will buy right at the open. This should get to somewhere near $34. If it wont get there today I will swing trade it till it reaches. This gap up is trapping so many people that need to cover. It needs to open above $30 to buy at the open if it doesn't open above $30 then I would wait for the first 5 min candle to form and buy...
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
SKX VERY NICE LONG SETUP. PLEASE READ COMMENTS ON CHART.