Michael Kors Technical Sell Off

Shares of Michael Kors Holdings Ltd

fall due to bear traders acting on technical levels display. Shares cross under the 200 DMA testing the level for the fourth time since 2012. A MACD (12,26,9) cross-under took place Monday at around 12:30 pm in result to the decline activity taken place earlier in the day. Shares Fell nearly 5 percent from its Wednesday highs. Support seen from Kors Wednesday close of $91.38 is retraced multiple times in the past six months, beginning on February 5th close of $91.34. Due to the retailers solid third quarter earnings on February 4th, 2014, not much support is displayed at the current price to lower price levels around $83 a share.