Deckers Outdoor is a premier retailer in the western US, Canada and select areas in Asia and Europe. The company’s stock has had its shares of ups and down, as evidenced by the daily chart below. Last summer’s chart clearly shows erratic price action and steep drops.
Since it plummeted in late July (due to a poor earnings report), the stock has been recovering. The double bottom test of the lows was successful. The MACD is now on a buy signal and the RSI is on the upswing toward new all-time highs. Check out the money flow, which has increased significantly. This will likely show up in the price action soon. Monday’s action was constructive, and the “green cloud” appears to be strong.
The name appears to be moving towards resistance around the 167 level. I expect we could see a move to the 180 level before too long.
Deckers Outdoor Chart Analysis
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About Deckers Outdoor
Deckers Outdoor Corporation designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high performance activities.
Its brands include UGG, Teva, Sanuk, Hoka and Koolaburra, and it sells its products through department stores, independent retailers, national retail chains and online retailers. The company was founded in 1973 and is headquartered in Goleta, California.