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Wednesday, January 8, 2014

Kors 1/8

Here is the daily chart of KORS.

KORS has a possible head and shoulders top, but it formed right on top of potential support from a prior resistance area.  It broke below the neckline today.  It also came in contact with its 100 SMA.  Funds that hold this stock have to make a decision here.  Do they buy more to support it or bail out.  If it finds support and climbs back above the green line it should have reasonable odds of testing the high.  If the 100 SMA fails to hold as support this stocks seems likely to head down to the 200.


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