Long Position on SKX @ $54.00 on 7/20/2023 (Momentum)

Skechers U.S.A., Inc. (SKX) designs, develops, markets, and distributes footwear for men, women, and children worldwide. 

The company operates through two segments, Wholesale and Direct-to-Consumer.

It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.

The company also provides men's and women's slip-resistant and safety-toe casuals, boots, hikers, and athletic shoes; and lifestyle apparel for men, women, and kids. 

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation. 

Entry Point: $54.00

Stop Loss: $51.25

Trading Range: $31.28 - $55.01

Target Price: $59.50

Position closed on 8/27/2023 at price of $51.25 with a -5.09% loss in 38 days.

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