MArket down 700 points for august and below 50 day moving average. We are above it. Nice base here being set in the high 50's much like a base was set over the last few months in the low 50's. Higher highs, 61.50 last week, and higher lows 56.99 close last night.
The action really says it all and it cannot be repeated enough, isniders holding MOUNTAINS.
Stock should be at 70+ based on last earnings report and managements RAISED expectations(while everyone else in retail seems to be LOWERING expectations), but it looks like over the next 120 days it should be easily reached.
Even if Deckers doesn't perform as well as expected(doubtful as management had conservative expectations to begin the year and have now raised them a month ago), the stock still has UGG PURE going for it and store growth over the next 30 months. None of which is priced in yet and if the growth comes as expected from both UGG Pure and the store growth; there is no reason the stock should be sitting at 50% off the all-time high; with the interest rate making this companies ability to make cash that much more attractive.