Long Position on MOV @ $48.80 on 7/30/2018 (Momentum)

Movado Group, Inc. (MOV) designs, develops, sources, markets, and distributes fine watches in the United States and internationally.

The company operates in two segments, Wholesale and Retail.

The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.

It also provides after-sales and shipping service.

As of January 31, 2018, the company operated 40 retail outlet locations. Its customers include jewelry store chains, department stores, independent regional jewelers, licensors' retail stores, and a network of independent distributors. 

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. The 50-day moving average (shown in brown) acts as a support for the stock.

Entry Point: $48.80

Stop Loss: $46.30

52-Weeks Trading Range: $21.50 - $53.73

Target Price: $53.68

Updates

2/25/2019 12:00:44 PM

Closed at $35.33

Position closed on 2/25/2019 at price of $35.33 with a -27.60% loss in 210 days.

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