CROX - broke out of consolidation
CROX broke out of an Adam & Eve bottom on 29 Jul, however it began to trade in a wide sideway range for the next 3months. Part of the reason could be due to overall market weakness / bearishness and traders/investors were not bullish enough to want to push the stock decisively higher until they can see at least another round of earnings beat/guidance.
With the stock is now back above it's 200 day moving average and it is likley that it is on it's way to "recovery'. However I will not be too surprised that the path forward could stll be fraud with choppiness considering the overall market condition.
With the strong volume push above the consolidation range, any near term retracement could (hopefully) find support at Friday's large candle's low @76.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
With the stock is now back above it's 200 day moving average and it is likley that it is on it's way to "recovery'. However I will not be too surprised that the path forward could stll be fraud with choppiness considering the overall market condition.
With the strong volume push above the consolidation range, any near term retracement could (hopefully) find support at Friday's large candle's low @76.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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