Long Position on ICON @ $40.00 on 12/3/2013 (Momentum)

Iconix Brand Group (ICON) is a brand management company. The firm engages in licensing, marketing, and providing trend direction for a portfolio of consumer and entertainment brands primarily in the United States, Canada, Japan, and Europe.

The company owns and licenses Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Zoo York, Sharper Image, Umbro, Buffalo, and Lee Cooper brands directly to retailers, wholesalers, and suppliers for use across a range of product categories, including apparel, footwear, sportswear, fashion accessories, home products and decor, beauty and fragrance, consumer electronics, and novelty products.

It sells its brands across various distribution channels through direct-to-retail and wholesale licenses, from the mass tier to the luxury market, as well as through various media outlets. 

Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock.

52-Week Trading Range: $19.75 - $40.78

Entry Point: $40.00

Stop Loss: $38.00

Target Price: $44.00

Updates

1/6/2014 9:56:34 AM

We are closing ICON position after it failed to reach our target within 30 days.

Position closed on 1/6/2014 at price of $39.43 with a -1.43% loss in 34 days.

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