Shirts On Sale Soon

Phillips Van Heusen (PVH) chart may be interpreted in several ways, but they are all bearish. Firstly, PVH completed a 10 month rising wedge on 21st of January (in blue). PVH made a throwback into the pattern but turned away after a couple of weeks and moved decidedly lower. Implied target for this pattern is $87.

Second point of view is that PVH is constructing a double top formation with a neckline at 114 which has yet to be broken. Implied target for this pattern is $93.

Finally we can also interpret the chart as an 8-months Head & Shoulders pattern with a weak right shoulder. Implied target is also $93.

Take your pick !

pvh

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One Comment on “Shirts On Sale Soon”

  1. perversionofthemean says:

    A Cramer fave


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