Long Position on KORS @ $50.00 on 6/21/2016 (Momentum)

Michael Kors Holdings Limited (KORS) engages in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel. The company operates in three segments: Retail, Wholesale, and Licensing.

The Retail segment is involved in the sale of women’s apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear. It operates collection stores and lifestyle stores, including concessions and outlet stores. As of April 2, 2016, this segment operated retail stores in the United States, Canada, and Latin America, including concessions, as well as e-commerce sites in the United States and Canada; and 278 international retail stores, including concessions in Europe and Asia.

The Wholesale segment sells accessories, such as handbags and small leather goods, footwear, and women’s and men’s apparel to department stores and specialty shops in the Americas, Europe and Asia.

The Licensing segment licenses its trademarks on products, such as fragrances, beauty, eyewear, leather goods, jewelry, watches, coats, men’s suits, swimwear, furs, and ties, as well as licenses rights to third parties to sell the company’s products in geographical regions, such as the Middle East, Eastern Europe, Asia (excluding Japan), and Australia. The company sells its products under the names of MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos.

Shares have formed a bullish "cup and handle" and appear to be ready to move higher. Trading volumes have slowed and that typically happens right before the breakout!

52-Week Trading Range: $34.83 - $59.49

Entry Point: $50.00

Stop Loss: $47.50

Target Price: $55.00

Updates

8/1/2016 11:29:13 AM

KORS closed at $53.12.

Position closed on 8/1/2016 at price of $53.12 with a 6.24% gain in 41 days.

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