As they say, the trend is your friend. We are witnessing a very strong move down on Deckers, despite it's excellent growth in UGG and Hoka, sales are slowing as inventory has failed to meet demands. This a good problem as the company can fix their supply and demand equilibrium, the management are known for under promising and over delivering. I see Deckers as one of the best run trainer companies out there. They have no debt, a massive cash pile and one of the best management teams in the industry.
From a technical perspective, we have a confirmed death cross as the price has fallen below key daily moving averages. I am expecting a bounce to occur between $100-115, so I will not be entering until I see the reaction to key support areas. I expect support at the 200 week moving average and the golden pocket fib retracement. Historically this has proven to be a good time to enter the stock. As long Hoka and UGG continue to remain popular with consumers, and as long as we don't have a recession, this makes it a compelling story.
As tech continues to show weakness, I think Deckers offers a very attractive buy over the coming weeks. Keep an eye on this, especially if you're a long term investor looking to diversify your portfolio.
Not financial advice, do what's best for you.
From a technical perspective, we have a confirmed death cross as the price has fallen below key daily moving averages. I am expecting a bounce to occur between $100-115, so I will not be entering until I see the reaction to key support areas. I expect support at the 200 week moving average and the golden pocket fib retracement. Historically this has proven to be a good time to enter the stock. As long Hoka and UGG continue to remain popular with consumers, and as long as we don't have a recession, this makes it a compelling story.
As tech continues to show weakness, I think Deckers offers a very attractive buy over the coming weeks. Keep an eye on this, especially if you're a long term investor looking to diversify your portfolio.
Not financial advice, do what's best for you.
Trade attivo
As mentioned in my original trade idea, I expected a bounce to occur at the $100-115 are. I started a small position at $114, so far we are getting a strong bounce, along with the equity market. If the trade goes against me, I will exit at break even (stop loss).
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.