Long Position on SCVL @ $39.00 on 10/25/2018 (Momentum)

Shoe Carnival, Inc. (SCVL) operates as a family footwear retailer in the United States.

The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

The company sells men's, women's, children's, and athletic footwear through its retail stores.  The main difference in Shoe Carnival stores is its concept. The Shoe Carnival Concept is creating an urgency to buy through limited time promotions and the microphone. The mic person announces "specials" over the microphone. These specials include discount, product information, and fun specials which encourage customers to make a purchase.

As of May 24, 2018, it operated 405 stores in 35 states and Puerto Rico. The company also sells its products through online shopping at shoecarnival.com.

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 is acting as a support for the formation.

Entry Point: $39.00

Stop Loss: $37.00

Trading Range: $17.94 - $45.00

Target Price: $42.90

Updates

11/12/2018 9:58:41 AM

SCVL closed at $43.

Position closed on 11/12/2018 at price of $43.00 with a 10.26% gain in 18 days.

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