Look out for confirmation, we have seen recently with the Sketchers SKX stock that the gaps tend to get 50% filled, so this could mean a possibility to short this stock in the next few days. RSI is very oversold today.
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SKX has done really well since the huge gap down on last ER. I have scalped puts on SKX for 50% and 75% profit respectively. But I think I think it is time for some calls. Once 30 breaks, the MACD should cross bullish above 0. That's one of the strongest long buy signals. The downtrend will offically be broken. Also, 30 has acted as resistance in this previous run...
SKX had a large fall after their last earnings. It has been climbing ever since with the only dips being during periods of consolidation. After a great trading day on 8/17/18, this will be looking to break above the 30.00 range. The downtrend resistance is right around this level at about 30.25 while there is some horizontal resistance sitting right around 30.00....
It is looking like SKX wants to take a rise. It has been on a rise since 2016 and then it suddenly took a massive gap down. The stock is going to rise back up to fill in the gap. Look to buy soon, then look to sell when it nears the resistance line, because it will then be inside of the upward trend that it has been on for so long.
SKX 2.55% has been on a trend upward since the end of 2016, and its not breaking now. The Q2 earnings went well and there is a massive gap that will be filled soon. It was severely over sold on the gap down and now if you look at the MACD it shows a bullish cycle ready to begin. The support line at 21.20 may be hit again before it goes back up but be on the...
With a very Strong Earnings rating from a compilation of Analysts watching this stock for a strong 2018. It happens to have an excellent Technical set up as a flat top break out 3 weeks ahead of what is estimated to be an excellent earnings report on Feb 9.
The price could have topped here within a large sideways correction wave X (yellow).
The wave C (white) is already larger than the wave A.
The target is highlighted with the white rectangle.
Previous low at the 18.81 could be aimed first.
The 78.6 Fibonacci retracement level (13.15) could be the optimistic goal.
