1DECK trade ideas
Deckers outdoors trade setupYesterdays upgrade
Deckers Brands rating change at Wells Fargo Deckers Brands upgraded to Outperform from Market Perform at Wells Fargo. Wells Fargo analyst Tom Nikic upgraded Deckers Brands to Outperform from Market Perform with a price target of $195, up from $177. The analyst notes the stock's upside guidance potential amid improving weather outlook for the 2nd half of FY20 and also cites the company's "compelling" portfolio structure along with its "cash cow" UGG brand. Nikic adds that Deckers stands to benefit from lean inventory levels at retail as well as the forecast of below-average temperatures for the Black Friday / Cyber week shopping periods
Read more at:thefly.com
P/E ratio 17.24
Short interest 7.78%.
Average analysts price target $185 | Overweight
Company profile
Deckers Outdoor Corp. engages in the business of designing, marketing, and distributing footwear, apparel, and accessories developed for both everyday casual lifestyle use and high performance activities. It operates through the following segments: UGG Brand, HOKA Brand, Teva Brand, Sanuk Brand, Other Brands, and Direct-to-Consumer. The UGG Brand segment offers a line of premium footwear, apparel, and accessories. The HOKA Brand segment sells footwear and apparel that offers enhanced cushioning and inherent stability with minimal weight, originally designed for ultra-runners. The Teva Brand segment focuses on the sport sandal and modern outdoor lifestyle category, such as sandals, shoes, and boots. The Sanuk Brand segment originated in Southern California surf culture and has emerged into a lifestyle brand with a presence in the relaxed casual shoe and sandal categories. The Other Brands segment includes the Koolaburra by UGG brand. The Direct-to-Consumer segment comprises of retail stores and e-commerce websites. The company was founded by Douglas B. Otto in 1973 and is headquartered in Goleta, CA.
The trading system Equity Trend to go long in #DECKToday at the market open (Dec 27), the equity trading system Equity Trend will open a long position in Deckers Outdoor Corp. (ticker: DECK)
Stock:
- Long - DECKERS OUTDOOR CORP - Ticker: DECK
Each day, the system scans around 10,000 stocks to find just 1 or 2 which are ready to move immediately.
The system combines elements of breakout trading, trend following and risk management from Turtle trading.
System: bit.ly
$DECK could be interesting tomorrow$DECK currently displays a ascending triangle with a strong resistance around 128.32 and a trend-following support line where the lows bounce. This is usually a bullish signal, but today the last minutes of trading also suggests a breakthrough down through support.
As support and resistance cross over tomorrow, the fate of the next days decide tomorrow: if the resistance is crossed, this suggests a #long position. If the support is clearly broken, a #short position could be worthwhile.
