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Michael Kors Holdings LTD Breaks 50-Day Moving Average

|Includes: Michael Kors Holdings (KORS)

This morning, leading apparel retailer Michael Kors Holdings LTD (NYSE:KORS) is trading lower by $2.64 to $91.23 a share. It should be noted that Michael Kors Holdings stock is now trading below the important 50-day moving average. This is an important level for technical traders. Often, when stocks trade below their 50-day moving average it is a sign of weakness in the near term. Many money managers will not buy stocks that are trading below this key moving average. Day traders can now watch for intra-day chart support around the $90.00 level. This is an area on the chart where day traders should expect an intra-day bounce.

Nick Santiago