Michael Kors (NYSE:KORS) has spent much of the time since its IPO in late 2011 moving in a choppy sideways fashion. Then a gap occurs, the stock moves up and a new choppy range develops. Whether this pattern repeats is yet to be seen. If the pattern continues, and the stock begins to move in a lateral channel once again, upside is limited based on the current price. The jump of nearly 9% on Feb. 12 likely exhausted much of the buying that is likely to be placed. It is also noteworthy that intraday the stock was up more than 13.5% from the prior close, and sold into the closing bell indicating that buying interest was already waning. Overall, the stock is in an uptrend and I see no reason to run from it now. Picking it up here is a bit pricey for me though, but between $58 and $54 I like it a bit more, with a stop in the $50 range. With that said, while this gap up could be the start of a strong wave higher in the stock, I think there are other plays out there, with a more defined trend, that warrant investment before Michael Kors.
Do these people actually think this stock will fall to the mid 50"s?
Unless there is a collapse in the entire market in general or maybe 3 days after a thermal nuculear war, I don't see this at all, IMO.
very faulty logic -- its borders on total amateurism -- i have read your previous posts
non made any sense --bottomline is we have 5 strong quarters but the two quarters were unbelievable
if thing touch touches below 60 i will doubly my position - in a heart beat