A Slew of Sour Signals
I'm seeing a symmetrical triangle consolidation on the daily chart of Phillips-Van Heusen (PVH), the big dog in the retail apparel space. After the stock price made equal highs in April and May, it broke below its 50-day moving average, and declined to the 38% retracement level between the 2010 low and the 2012 high, in the area of the 200-day moving average.Phillips-Van Heusen (PVH) -- Daily Source: StockCharts.com View Chart »
Since then the stock has made a series of lower highs and higher lows, and has traded within the borders of the compressing 50- and 200-day lines. The relative strength index has remained flat during the consolidation, but above its 21 period signal line, and moving average convergence-divergence made a bullish crossover and has tracked higher. Chaikin money flow has seen recent improvement, but on very weak volume. Further, the money flow indicator, a volume weighted relative strength measure, is below its centerline. ...178 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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