Skechers USA: Is Santa Coming to Town?

12월 2일

Skechers USA has consolidated since the summer, but some traders may expect a rally this holiday-shopping season.

The first pattern on today’s chart is the August 2 close of $59.45. SKX bounced near that level in September, October, and again last month. Is new support in place?

Second, you have the series of lower highs since September. SKX ended last week near that trendline. Traders now may watch for signs of a potential breakout through that resistance.

Third, prices are near the 50- and 200-day simple moving averages. That could indicate the intermediate and long-term trends are neutral, which may open the door for a new trend to begin.

Finally, MACD has turned positive.

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