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Canada Goose Holdings (NYSE:GOOS) shares are trading lower by 50 cents (2.5 percent) at $18.45 in Thursday's session. Despite a Q1 EPS beat of 3 cents along with a big beat in sales ($28.2 million vs. $13.4 million), the stock is in the red.
After a higher open, Canada Goose found resistance just above its July 20 high ($20.20) and just below its July 24 high ($20.34) then sharply reversed course. The ensuing decline has taken the stock to $18.11 and is attempting to rebound.
That level coincides with its June 1 ($18.02), which was its low for the day one day prior to its Q4 report that instigated a rally from $18.71 to $21.64. It went on to make an all-time high three days later at $24.32. Its all-time closing high was made on June 6 at $23.42.
If the decline continues beyond its current intraday low, there may additional support at its May 31 low ($17.60).
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