Reader Request: Michael Kors

By | May 17, 2015

Michael Kors (KORS) shares have retraced half of their historical range, tracking below their 50 day moving average since about this time last year. They are currently at the 50% Fibonacci retracement level of their IPO price in 2012 and their 2014 all-time high.

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The stock is in a downtrend, that’s pretty clear, but while I wouldn’t approach it from the long side until it completed a period of consolidation, I’m equally as hesitant to jump on board the downtrend at this potential technical inflection point. Next chart, please.

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