Safe, Long-Term Buy for KATE (Kate Spade)
Updated
NYSE:KATE has made a major retracement, and it is currently being supported by three things:
* The 30-year moving average (shown as the dark-blue line).
* The 8-year moving average (shown as the light-blue line).
* The 61.8% Fibonacci level (shown as the red line).
If KATE bounces at this point, it is likely to head to new highs over the next 10 years. This makes KATE an excellent buy-and-hold candidate for a retirement portfolio.
* The 30-year moving average (shown as the dark-blue line).
* The 8-year moving average (shown as the light-blue line).
* The 61.8% Fibonacci level (shown as the red line).
If KATE bounces at this point, it is likely to head to new highs over the next 10 years. This makes KATE an excellent buy-and-hold candidate for a retirement portfolio.
Trade closed: stop reached
Price broke through the supports, thus invalidating the context for the trade. Trade closed @ 14.50
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