Packing Shoes for Spring Break
- Posted by Greg Harmon
- on April 20th, 2011
For most guys this is easy: Flip flops. But for women I have been told it is an entirely different story. You need something fashionable but warm to wear while flying to and from your destination, sexy chic sandals for the beach and then a nice pair of pumps for those nights out on the town. At least that is what people tell me. Well if that is true then I am a women. Three pairs of shoes Croc’s (ticker:$CROX), Decker’s Outdoor (ticker:$DECK) and Steve Madden (ticker:$SHOO) round out my choices for the trip. Let me explain.
Aside from packing my Croc’s Modi Flip (thanks to Michael Bigger) the chart above for the stock is also looking like a good pick. It broke above a triple top resistance at 19.54 Wednesday, and is also back in the rising channel. The Relative Strength Index (RSI) is rising and the Moving Average Convergence Divergence (MACD) indicator is increasing. It did close outside of the Bollinger bands (BB) Wednesday though so it may consolidate or retest the break out level before moving higher. Look for a target on a move higher of 23.59.
Will be wearing my Man Ugg’s for the plane rides back and forth because they take up too much room in a suitcase. But notice that the chart above for DECK, the maker of these great boots, is also starting to break out higher above the top rail 94.75 resistance of an ascending triangle. The RSI and MACD for DECK also support more upside. The target for the pattern break higher is 117 but there is a measured move target of 102.50 along the way.
Finally I will need my Steve Madden Hot Pink VELCRO Pumps for the club scene (let’s keep this one our little secret). The chart for SHOO above is also in breakout mode, testing the 50 resistance level Wednesday. The MACD kissed the flat line and is bouncing higher and the RSI is moving up, both supporting more upside. The shooting star printed may bring a retest of the consolidation just under 50 but a hold over 48.50 still looks god to the upside. Look for a target of 57 on a measured move after it confirms over 50.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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