KORS came out with its earnings report today. It gapped up since it revised future earnings higher, then sold off because it warned that 4Q revenue could come in light due to potential shipping delays as it transitions to a new distribution facility. Since the price of KORS is arguing that this is a one time issue, KORS is now looking as if it will have a pocket pivot in today's trade, assuming it can close at least in the top 1/2, though preferably top 1/3 of its trading range.
If you buy now, and it closes in the bottom half of its trading range, you might consider selling just before today's close. More aggressive investors may put decide to put in a stop below today's low.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
