After running out of steam, the uptrend may resume. The fundamentals support the stock with a gradual upward revision of earnings per share by analysts.
Michael Kors Holdings is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. Prices are near to the lower limit of the bullish channel and the USD 54.9 support which is corresponding to the 100-day moving average. Thus, the stock may bounce towards the USD 59.25 short term resistance.
Investors could take a buy order in Michael Kors Holdings on this level. The objective will be set at USD 59.25 then USD 64.85. A stop loss must be set below the USD 54.9 short term support.
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