Wednesday, February 3, 2016

Buckle Inc (NYSE: BKE)

The Buckle, Inc. operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. The company operates stores under the Buckle and The Buckle names. The Buckle, Inc. also sells its products through its Website, As of March 24, 2015, it operated 462 retail stores in 44 states.
Take a look at the 1-year chart of Buckle (NYSE: BKE) below with my added notations:
1-year chart of Buckle (NYSE: BKE)
BKE’s trend has been very simply a down one. However, over the past few months the stock has created a key level of resistance at $28 (green), which you can see was a key support back in November and December. A break above that $28 level should mean higher prices for the stock, and last week BKE finally broke that resistance.

The Tale of the Tape: BKE broke through its key level of resistance at $28. A long trade could be entered on a pull back down to that level. However, a break back below $28 could negate the forecast for a higher move and would be an opportunity to get short the stock.

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