Iconix Brand Group, Inc., a brand management company, owns, licenses,
and markets a portfolio of consumer brands across women’s, men’s,
entertainment, and home primarily in the United States and
internationally. The company brand portfolio includes Candie’s, Bongo,
Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean
Pacific, Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma,
Starter, Waverly, Ecko Unltd, Marc Ecko Cut & Sew, Zoo York, Sharper
Image, Umbro, and Lee Cooper brand names. It also has interest in
Artful Dodger, Material Girl, Peanuts, Ed Hardy, Truth or Dare,
Billionaire Boys Club, Ice Cream, Modern Amusement, Buffalo, Nick
Graham, Hydraulic, and Strawberry Shortcake brands. Iconix Brand Group,
Inc. licenses its brands directly to retailers and wholesalers for use
across a range of product categories.
Take a look at the 1-year chart of Iconix (Nasdaq: ICON) below with added notations:
ICON has been trading sideways over the last 3 months. During the
sideways move the stock has formed a common pattern known as a
rectangle. A minimum of (2) successful tests of the support and (2)
successful tests of the resistance will give you the pattern.
ICON’s rectangle pattern has formed a resistance at $36 (red), which
was also support back in October, and a $33 support (green). At some
point the stock will have to break one of the two levels.
The Tale of the Tape: ICON is trading within a
rectangle pattern. The possible long positions on the stock would be
either on a pullback to $33 or on a breakout above $36. The ideal short
opportunity would be on a break below $33.
Please share this article
No comments:
Post a Comment