SSS - Short-Sale Set-Ups: DECK and AMZN Update
DECK is breaking down hard on heavy volume. If you aren't trying to scalp a quick profit on this one then we are looking for a downside price objective of 63-64 on this break of the neckline.
AMZN is rallying on news of Feb comp sales being up 60%, so this is a news-related rally, sending the stock up 2-3% this morning. We'll hang on our stops, using the 50-dma plus 2-3%, with the idea that the news-related rally will dissipate. Like DECK, AMZN's Relative Strength line has been making new lows as the stock has tracked sideways, and today that lower-low RS line figured into DECK's continued weakness.
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