Skechers U.S.A., Inc. designs, develops, markets, and distributes
footwear for men, women, and children, as well as performance footwear
for men and women under the Skechers GO brand name worldwide. It
operates through four segments: Domestic Wholesale Sales, International
Wholesale Sales, Retail Sales, and E-commerce Sales. The company offers
casual footwear, including boots, shoes, and sandals for men, as well as
oxfords and slip-ons, lug outsole and fashion boots, and casual sandals
for women; dress casuals, seasonal sandals and boots, and relaxed fit
casuals for men and women; casual fusion line for young men and women
under the Skechers USA brand.
Take a look at the 1-year chart of Skechers (NYSE: SKX) below with my added notations:
SKX has formed an important support level at $40 (green) over the
past three months. In addition, the stock is declining against a
short-term, down trending resistance level (red). These two levels
combined have SKX stuck within a common chart pattern known as a
descending triangle. Eventually, the stock will have to break one of
those two levels.
The Tale of the Tape: SKX is within a triangle
formation. A short trade could be made on a break of support or on a
test of resistance. A long trade could be made at support or on a break
through the triangle resistance.
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