Will Deckers finally reverse its long slide?
Wesley Harr | email@example.com
The footwear maker's stock is trending higher with its 5-day moving average. In addition, the 5-, 10-, and 20-day averages are all stacked positively to one another.
DECK could be setting up to fill a gap that opened on April 27 as shown on the chart below, when the stock closed at $51.83 after plunging from near $70 in the previous session. What I'm looking for is two consecutive sessions above $56.58--the immediate "reactionary" low at the open of that day--as a possible signal of fresh capital coming into the name.
If that occurs, DECK could climb back to the April 26 low of $67.09. Shares of the footwear maker are up 4.7 percent to $58.76 this morning.
(Chart courtesy of tradeMONSTER)