DON’T FORGET!! I will be conducting a LIVE and FREE webinar today at 12:00ET titled – “3 Stock Market Chart Patterns You Need to be Watching… or Lose Thousands of Dollars!”
If you care about protecting your money, or want to make thousands of dollars based on the TBS method, you do not want to miss this event! Here’s the link to register:
Even if you cannot attend the webinar live, feel free to register for the event and I will send you a recording of the webinar after it is over!!!
Deckers Outdoor Corporation engages in the design, manufacture, and marketing of footwear and accessories for outdoor activities and casual lifestyle use for men, women, and children in the United States and internationally. It operates through UGG, Teva, Sanuk, Other Brands, eCommerce, and Retail Stores segments. The company offers luxurious comfort footwear, handbags, apparel, and cold weather accessories under the UGG brand name; open and closed-toe outdoor lifestyle footwear, light hiking shoes, freeride mountain bike shoes, amphibious footwear, and rugged outdoor cross training shoes, as well as multi sport shoes under the Teva brand name; and action sport footwear under the Sanuk brand name. It also offers high end casual footwear under the TSUBO brand name; outdoor performance and lifestyle footwear under the Ahnu brand name; and work footwear under the MOZO brand name, as well as running footwear under the Hoka One One brand name. The company sells its products primarily to specialty retailers, department stores, outdoor retailers, sporting goods retailers, shoe stores, and online retailers.
To review Decker’s stock, please take a look at the 1-year chart of DECK (Decker’s Outdoor Corporation) below with my added notations:
Decker’s stock has been stuck within the same $50 to $60 area since April. In addition, during that time DECK has created a strong resistance at $60 (blue) and the stock has tried to push through that resistance several times. A break through that $60 resistance would also be a new 52-week high for the stock and should mean higher prices moving forward.
The Tale of the Tape: DECK has a 52-week high resistance at $60. A long trade could be entered on a break through that level with a stop placed under it.
Would you like assistance in making your TBS trades? If so, email me at Christian@yolopub.com and let’s talk about working together one on one!
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
Christian Tharp, CMT