Footwear stock Crocs has been in a steady uptrend since the market bottomed in March 2020. Now it’s pulled back and may be interesting to swing traders.
The first pattern on today’s chart is the 50-day simple moving average (SMA). CROX tested it on Friday and Monday, closing above it both times.
Next, the current area of support corresponds to the September peak around $163. That may suggest old resistance is new support.
Third, the recent pullback dragged stochastics into oversold territory.
Finally, CROX overcame Asian supply-chain issues to report better-than-expected results on October 21. In particular, strong demand for shoes drove margins and let management hike guidance.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
The first pattern on today’s chart is the 50-day simple moving average (SMA). CROX tested it on Friday and Monday, closing above it both times.
Next, the current area of support corresponds to the September peak around $163. That may suggest old resistance is new support.
Third, the recent pullback dragged stochastics into oversold territory.
Finally, CROX overcame Asian supply-chain issues to report better-than-expected results on October 21. In particular, strong demand for shoes drove margins and let management hike guidance.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.