Tuesday, 23 December 2014

US Stock Pick of the Upcoming Session : MICHAEL KORS HLDGS LTD



Recommendation    :           Sell Below $73.15
Target                      :           $70.50

STOCK SUMMARY:-

Michael Kors Hldgs ltd is overall in consolidate trend and is sustaining at lower levels on chart. Traders can sell the stock below the level of $73.15 which is a near term support level for the stock and if it manages to breach this level further bearish movement is expected in this stock to test the levels of $70.50.

CHART FORMATION
Stock is in consolidate trend for near term and price is taking resistance from trend line with good consolidation on daily chart. Near term breach of support level of $73.15 is expected which would trigger further bearish sentiment in the stock to test the levels of $70.50.
Technical Report of Michael Kors
Technical Chart
INDICATORS:-
RSI is trading with negative bias and is sustaining below the level of 50.
In MACD signal line is sustaining below MACD line which  is indicating bearish sentiment in the stock.