MarketAction sent this alert out on April 14th. Currently the pick is up 8% in 22 days. Want Alerts of this nature sent via SMS and email everyday? Become a user today and receive real time Alerts . It's FREE and always will be.
Buy SHOO @ $48.70
Set Stop Loss @ $42.44
Set Sell Limit @ $59.76
Steve Madden (SHOO) is a leader in the retail industry in footwear. The stock had a huge run-up last year and was in a consolidation for a while but just now recently broke out of solid base resuming its uptrend. This company, on a fundamental level, has a solid history of earnings beats, strong sales, and a competitive edge in the market in the past decade--along with great leadership, which is key to any growing company. On a technical level, the stock is not as volatile as other growth stocks and has a history of consistently rising with the market and is right now at a perfect buy point.
Bottom line: Great, established company with solid fundamentals and over decade success. At a great place to buy on a technical level, so now is the time to pounce. This is a position trade, meaning that you can expect to take your profits anywhere from three months to a year, and it is a relatively low risk trade relative to the upside potential. A proper portfolio allocation for this trade would be 20%. Happy Trading!