Last night Crox beat (sort of) earnings estimates - posting higher profits but not much in the way of increased revenue or future expectations.
It's set to open UP 8% this morning, trading near $15 in pre-market (7/26/12).
As you can see by the chart, that's STILL not even breaking the 20 or even 50-period moving average (weekly scale) -- meaning the trend for the world's greatest purveyor of abstinence footwear still favors a downward move.
In the absence of any earth-shattering news from CROX, I still look for this to go down and think we'll see the high $13's and low $12's before we breach the moving averages and confirm a trend reversal.
Looking to short on today's pop with the aforementioned targets, placing a stop somewhere around the mid to high $15's...
It's set to open UP 8% this morning, trading near $15 in pre-market (7/26/12).
As you can see by the chart, that's STILL not even breaking the 20 or even 50-period moving average (weekly scale) -- meaning the trend for the world's greatest purveyor of abstinence footwear still favors a downward move.
In the absence of any earth-shattering news from CROX, I still look for this to go down and think we'll see the high $13's and low $12's before we breach the moving averages and confirm a trend reversal.
Looking to short on today's pop with the aforementioned targets, placing a stop somewhere around the mid to high $15's...