SKECHERS USA INC-CL A (SKX)       39.75  -0.35 (-0.87%)

39.75  -0.35 (-0.87%)

US8305661055 - Common Stock - After market: 39.75 0 (0%)

Technical Rating

8

We assign a technical rating of 8 out of 10 to SKX. Although SKX is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.



The long and short term trends are both positive. This is looking good!
SKX is part of the Textiles, Apparel & Luxury Goods industry. There are 49 other stocks in this industry. SKX outperforms 81% of them.
SKX is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
SKX has an average volume of 1839760 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, SKX turns out to be only a medium performer in the overall market: it outperformed 62% of all stocks.
SKX is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 22.86% 4.10% 2.19% -12.83% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 62.53 31.28 - 49.89
SKX Weekly chart
SKX Daily chart

Support/Resistance Analysis


31.40

42.93
When analyzing the support we can see 2 important areas.
  • Support @39.08 from a horizontal line in the daily time frame.
  • Support @31.72 from a horizontal line in the daily time frame.
3 important resistance areas can be observed.
  • A resistance zone ranging from 39.79 to 40.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Resistance @41.52 from a horizontal line in the daily time frame.
  • Resistance @42.50 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

8

SKX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 40.11. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 40.09, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SKX in the last couple of days, which is a good sign.

  • Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
40.2639.780.48 (1.19%)25.00%
An entry @40.26. This is a Buy Stop order right above the resistance zone.An exit @39.78. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 0.48 points, which is 1.19%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.30%.

  • The distance between exit and entry is rather small compared to the average daily movement of SKX. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
SKX Daily chart

SKECHERS USA INC-CL A39.75

NYSE:SKX (11/28/2022, 3:10:04 PM)-0.35 (-0.87%)

After market: 39.75 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Consumer Discretionary
GICS Industry Textiles, Apparel & Luxury Goods
Performance
Today -0.87% 1 Week 0.53%
2 Weeks 6.23% 1 Month 22.86%
3 Month 4.1% 6 Month 2.19%
Volatility
ATR(14) 1.28 ATR(20)% 3.37%
ATR Inc -57.86% Range Today 0.82
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 62.53 Mansfield 0.52
10 Day High 41.3 10 Day Low 38.02
20 Day High 41.3 20 Day Low 32.16
52 Week High 49.89 52 Week Low 31.28
CS1 End 40.09 CR1 Start 40.11
Volume & EV
DER(3) 3.7% DER(5) 2.94%
Volume 1.38M Volume Incr -57.39%
Vol(5) 985.64K Vol(50) 1.84M

Technical Stock Screener Links

Screen Image

Technical Stock Screener

Find stocks with similar TA and Setup ratings on the USA

Screen Image

Best Technical Competitors Stock Screener

Find the competitors with the best technical ratings on the USA

Screen Image

Best Technical Setups Competitors Stock Screener

Find the competitors with the best technical and setup ratings on the USA