Michael Kors Weighs on Retailers with Break Down

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Michael Kors (KORS) led the market in February with a massive gap and new high, but the stock has fallen on hard time in June with a trend line break and relative breakdown. On the price chart, KORS broke the internal trend line and support zone with a sharp decline below 90. Broken support turned resistance and held the last two weeks. The indicator window shows the StockCharts Technical Rank (SCTR)  breaking decisively below 50 and remaining weak. With a SCTR score of 23.6, KORS is underperforming over 70% of large-caps.


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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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