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Michael Kors Holdings Limited Message Board

  • jeff_spicoli82 jeff_spicoli82 Feb 14, 2013 9:28 AM Flag

    Investopedia is dead on about KORS


    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.

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