In any case, the run up has been great. But what now?
If we look at the weekly graph, we see that KORS is racing its way to the 50% Fibonnacci retracement. It will test it soon and the question will then be: will it break through? In terms of fundamentals of the stock, it might be possible to break this resistance line - the company has held practically no debt in its entire history, is still growing abundantly (albeit a bit less in its base market US), its new men's fashion unit is paying off as well as its acquisition of Jimmy Choo, and the investment in the online channels has shown great results; although KORS still has to work its way back up in terms of brand appeal, which has been relatively strongly diluted in the past couple of years - but as for the moment I believe it is far too risky to aim for breaking resistance.
--> The technicals support this view: KORS is aiming for a test of the 50% Fibonnacci level, yet has both (upcoming death cross) and (way above 70) against it. These are very signals that can have the stock pull right back to maybe even the 38,2% and by extension the 23,6% one.
Moreover, illustratively, you can see what happened after the golden cross back in January 2016: price jumped through the roof and successfully tested the 23,6% Fibonnacci (note that there, it did have and support!), subsequently it tested the 38,2% Fibo, failed, and plummeted back completely (and in the process made a clear figure :-) )!
In any case, I do believe the longer term prospects of the company are quite , but a correction in the stock price is to be expected. Therefore, I would (non-officially ;) )recommend to take some profits and get back in at a more depressed price if one likes this stock. (However - really investing in fashion stocks is something very difficult, as it has a very capricious customer base).
Great trade, but time for something new!
PS: I haven't done a detailed analysis in this piece, but to place the correct stop losses etc, definitely zoom in on the upper trend channel KORS is currently in to define these!