KORS is clearly in a downtrend, and $55 has been providing a bottom. However, it looks like KORS will eventually pierce the $55. The stock is cheap, and the business is great. But, this stock is broken, and the chart tells us we have a sick patient here...
I agree with you comment but also noticed that the $55 lvl it's been touched twice in a week or so so maybe our foundation is already in.
if you look back in November we had that happened with high $40 kinda like $48 and $55 we were bouncing up and down for few weeks and then we were at $60.
you comment prop. is spot on ( hoping it is)
I think we are in a downtrend until we are in an uptrend. Ya gotta know the companies business is on fire and that KORS is the must have luxury item. LULU has been killing the retail sector this week. KORS is not LULU. KORS is taking market share from COH big time, and growing rapidly. Their shares will be rewarded eventually.
On the weekly chart KORS shows that it has been making higher lows. The stock hit a low of $47.26 on December 27, 2012, another low of $52.77 on February 5, 2013, and the latest low of $54.54 on March 11, 2013. But, since hitting a high of $65.10 on February 19, 2013 it has been in steady decline. The only positive I see is that it held the lows this week. If it continues to hold the low of $54.58 then it may possibly form the right side of a base? Or, just remain range bound $55-$60?