Guess?, Inc. (NYSE: GES)

Guess?, Inc. designs, markets, distributes, and licenses lifestyle collections of contemporary apparel and accessories for men, women, and children that reflect the American lifestyle and European fashion sensibilities. The company’s clothing collection includes jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, knitwear, and intimate apparel. Guess?, Inc. also grants licenses to manufacture and distribute a range of products that complement its apparel lines, including eyewear, watches, handbags, footwear, kids’ and infants’ apparel, leather apparel, swimwear, fragrance, jewelry, and other fashion accessories.
Please take a look at the 1-year chart of GES (Guess, Inc.) below with my added notations:

GES has held a very important level of support at $27 (purple) since August of last year. No matter what the market has done lately, GES has not broken $27. Now, the stock has approached $27 again and that might provide another bounce higher. However, the stock’s recent lagging of the overall market could be setting the stock up for an eventual breakdown.

The Tale of the Tape: GES has a key level of support at $27. A trader could enter a long position at $27 with a stop placed under the level. If the stock were to break below the support, a short position would be recommended instead.
Please share this article