Now unlike my bullish bias in Michael Kors Holdings (NASDAQ:KORS), with it reporting later today, not so much of a bullish bias in Fossil (NASDAQ:FOSL), which is another high beta stock. So, the analysis would be if KORS, like I just previously reviewed, can break above that cup and handle, I think FOSL on the other hand is going to be running into some resistance here. You can also see from the momentum oscillator here that it’s kind of trending down so any type of strength I believe should be sold. You can see all this overhead supply through this big huge gap. What we call that in, let’s say, not-so-technical terms is “pissed off supply.” And so in this case, my bias would be bearish in FOSL, bullish in KORS.
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