Skechers USA: Is Santa Coming to Town?
Skechers USA has consolidated since the summer, but some traders may expect a rally this holiday-shopping season.
The first pattern on today’s chart is the August 2 close of $59.45. SKX bounced near that level in September, October, and again last month. Is new support in place?
Second, you have the series of lower highs since September. SKX ended last week near that trendline. Traders now may watch for signs of a potential breakout through that resistance.
Third, prices are near the 50- and 200-day simple moving averages. That could indicate the intermediate and long-term trends are neutral, which may open the door for a new trend to begin.
Finally, MACD has turned positive.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
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The first pattern on today’s chart is the August 2 close of $59.45. SKX bounced near that level in September, October, and again last month. Is new support in place?
Second, you have the series of lower highs since September. SKX ended last week near that trendline. Traders now may watch for signs of a potential breakout through that resistance.
Third, prices are near the 50- and 200-day simple moving averages. That could indicate the intermediate and long-term trends are neutral, which may open the door for a new trend to begin.
Finally, MACD has turned positive.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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