Croc’s and Deckers are Forecasting a Tropical Winter
- Posted by Greg Harmon
- on September 11th, 2012
A few weeks back on August 29th I took a look at Croc’s, $CROX, in Buy More Shoes! it still looks good and is in another bull flag. The last three candlesticks have been dojis and Tuesday’s a bearish Spinning Top. But with the Relative Strength Index (RSI) moving up and bullish and the Moving Average Convergence Divergence indicator (MACD) positive, the rest of the signs point
higher. A move over 18.40 sees resistance next near 20. Another darling of the 2010 – 2011, Deckers Outdoor, $DECK, looks quite the opposite though. After bouncing from a long 9 month run lower it is falling back again toward the low at 40. This chart is supportive of more downside with the SI trending lower and about to head into bearish territory and the MACD negative and growing.
Deckers Outdoor, $DECK
Each of these in their own right could be a lucrative trade but the pairs trade set up form the ratio chart below is very compelling. Breaking the descending triangle lower under a ratio of 2.50, with a RSI that is bearish and trending lower and a negative MACD it has a target on the triangle break of 1.50.
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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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