FOSL trade ideas
FOSL - the case against funnymentalsFOSL has a decent track record. They continued this record by beating earnings this quarter.
Good year-over-year earnings growth, solid EPS, low debt ratio, good cash. If the market was getting crushed today, the 12 point drop in pre-market would have made *some* sense. It's not, though. Market analysts say that the company's fundamentals, while good, are not QUITE as good as the rest of the sector and the stock is suffering for it.
We're not funnymentalists. Let's look to the gods of the charts to find out why they hath forsaken us.
10 minutes and lots of colorful lines later, we see our major price action points and a simple answer: head and shoulders, baby. The only thing of real interest here is that 107.35 point. It's below the neckline, but every time the H&S drops out, this fella gets knocked out of the park the next day. It's a major support level formed over the last year and an important buy point for algorithms. Once the H&S is complete, algos and retail buyers struggle to keep the stock up at 107.35 but we know that it can't stay.
They manage to drive the price back up to the neckline to the penny and then get dumped like a junior on prom night.
FOSLIn the previous four times the total output from the bands meant the beginning of a long descent. But then was support from the MACD indicator. Now it is not. And then there was no support from the MA 200 line. So, the situation is fundamentally different. You can say the opposite.
FOSLPosted 4 days ago. " In any case, such a slow descent can turn at any moment. I currently am waiting for the green candle , proportionate red, which started to fall". Maybe it happen now?
Exhausted bearsHammer candlestick with volume spike exactly on trend line.
Delayed long entry on FOSL.
Fossil weak in DecemberPotential weakness below regression line until first fibonacci resistance 119-120, followed by potential break to new highs above 132.
FOSLThe graph is in the negative zone of B bands .
The last time a full exit from the B bands area ended by the same output, but from the opposite side.
FOSLVery interesting: the support area is below the BB middle line, and, therefore,
In the negative zone.
FOSL: Into Rising Channel/Cluster ResistanceFOSL is finishing off a bearish butterfly construction as the latest leg higher into rising channel resistance near 125. This level coincides with the 78.6% retracement of 2012's range and structured measured move resistance given off by the channel.
Through 127.50, FOSL finds itself contending with the same level as 2011 and 2012's topping structures between 125-135.
Over these obstacles, broadening top trend line resistance at 150 comes into play (sometime in late Q1 or Q2 2014 if the current trajectory holds).
FOSL1-strong jump with the formation of a large gap.
2-two candles are outside the B band.
3-flat trend.
4-free fall.
Short idea of Fossil ($FOSL)Will short close as possible I can get to 108-112. Stop is 116.
Targeting 92-90
Nice bearish Fibonacci Harmonic Pattern formed in a major Resistance Zone.
{IDOJI} $FOSL Creation Date 03.18.12{iDOJI} $FOSL 60 minute. On the IBD50. The daily bar is really un-settling that this name is headed down, however, it acts well on trend provided you are studying the 60 minute. Follow me on Twitter @BeautyBubble.
