03.11.2014 - The double bottom on the chart of Michael Kors Holdings

The stock price of Michael Kors Holdings after two failed attempts to break through and fix below 70.00 started to adjust upwards and fixed above the level of 77.20, which is the nearest local maximum. As a result, on the price chart has formed a "double bottom", which indicates a change in trend to positive and is a signal to open a long position. In this regard we recommend to open long positions with the objectives of 84,00, 88,00 and 100,00. Stop should be set below 70.00.

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