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.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2020 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.