Market Overview

Michael Kors Holdings Ltd (NYSE:KORS) Sale Has Only Begun

The share price of Michael Kors Holdings Ltd (NYSE: KORS) is sure in a funk these days. Long gone are the days where the stock was considered one of the go to retail stocks on Wall St. After Michael Kors Holdings Ltd (NYSE: KORS) went public in December 2011, the stock kept cruising higher, even as naysayers said it wouldn't last. Well on February 25, 2014 the bears of this equity were finally proven right, as that marked the top in the shares at a price of $101.04. Since that day the stock has been making its way lower and is now in bear market territory, as it is down almost 30%. With such a decline traders and investors are probably looking for levels to buy Michael Kors Holdings Ltd (NYSE: KORS) stock on the long side. I have found a couple good entry points but they are much lower than where the equity is currently trading at. I have isolated $64.75 and $51.00 as the levels to watch for in the coming days and weeks. These levels may seem a bit far away at the moment but do realize that this stock can be a volatile one and can fall fast. This is a name I will have on my list to buy and will issue the trade alert for Elite Round Table members to profit from. 
If you only read one email again, make sure it comes from the Elite Round Table. Our FREE market emails contain information that can actually make you money. Ask yourself, what email have you read that can do that? Answer = none. Join our list here.
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


Related Articles (KORS)

View Comments and Join the Discussion!