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.

By iam802

Trend trading with Ichimoku