Michael Kors : A well-established uptrend
Entry price | Target | Stop-loss | Potential |
---|
US$70.2 |
US$72.4 |
US$66.22 |
+3.13% |
---|
Michael Kors Holdings comes back to interesting level before going toward its highest level.
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Moreover the group has a positive treasury, sign of a healthy situation.
Technically, the security shows a bullish configuration on all time scales and is supported by increasing moving averages. The stock is coming back to the USD 67.9 short term support, which is also corresponding to the 20-week moving average. Its consolidation should help the stock to reach the USD 72.4 resistance.
In consequence, investors can take a long position in Michael Kors Holdings, around USD 67.9 with a first target price at USD 72.4. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be set under the short term support.
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