SKECHERS USA INC-CL A (SKX) Stock Technical Analysis
NYSE:SKX - New York Stock Exchange, Inc. - US8305661055 - Common Stock - Currency: USD
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.
Besides having an excellent technical rating, SKX also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 63.07, 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.
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2 important support areas can be observed.
- A support zone ranging from 61.31 to 63.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @47.38 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 63.16 to 63.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SKX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SKX is up. |
| ChartMill Relative Strength | 71.35 | POSITIVE | SKX has a high relative strength, it outperformed 71.35% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SKX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SKX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of SKX is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 65.01 | NEUTRAL | The RSI value for SKX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.14 | NEGATIVE | The MACD value suggests SKX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 40.36 | NEUTRAL | The Stochastics value for SKX is a neutral value. |
| Average True Range in percent/ATR (20) | 0.31 | LOW VOLATILITY | The low ATR as a percentage value for SKX suggests low volalility. |
| Average Directional Index/ADX (14) | 41.32 | POSITIVE | The high ADX value value for SKX suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 63.17 | 62.95 | 0.22 (0.35%) | 25.00% |
| An entry @63.17. This is a Buy Stop order right above the 10 day moving average. | An exit @62.95. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.22 points, which is 0.35%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.09%. |
- 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.
63.08
+0.03 (+0.05%)