Category Consumer Cyclical (Footwear)

$CROX . Bearish cross.

 

$CROX has a a few bearish signals aligned.

1. From the Chikou Span, we can see a Head and Shoulder formation is sighted.

2. The Chikou Span has also cut the Tenkan sen; a confirmation that the support has been breached.

3. Tenkan sen has cut Kijun sen; forming a weak bearish cross.

Currently, the price is trading just above the kumo. However, we can see that the kumo support is not very thick and $CROX can easily pierce through this support and head towards $15 in fast trades.

Under Armour, Inc (UA): Price under pressure. Letter M?

 

Under Armour (UA) seems to be under pressure and may be poised to drop below the kumo support soon.

1. Chikou Span has pierce through the price level

2. Tenkan sen has cut Kijun sen and with price above the kumo, this is suggesting a possible head start for a bearish move (weak bearish move now)

3. Price gap down about 5 days back.

4. Putting all these together; it seems a letter ‘M’ is forming.

Note:

At the same time, do note that UA is still trading above the kumo and the support is fairly thick.

Crocs Inc (CROX) : Selloffs. Watch for the Support levels

Crocs (CROX) has a sell off for the past 3 days after its estimated earnings for short of the consensus.

While the selling is fast and on high volume, we do need to watch out for a swift rebound.

From the Ichimoku chart, we can see the following:

1. Daily Chart shows that it is sitting right on the kumo support with RSI fast approching oversold.


2. Weekly Chart shows that it is still on a nice long uptrend and sitting on the Kijun sen for support.

In other words, the long term trend is still intact.

Tonight, price action will have an impact. Further selldown will suggest that it is going into bearish mode.

However, given that the company has highlighted about the earnings guidance and it fell within the consensus range, I think it will be poised for a rebound soon.