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Look for Shares of Skechers Usa-A to Potentially Pullback after Yesterday's 1.23% Rise

By Shiri Gupta

Skechers Usa-A (NYSE:SKX) traded in a range yesterday that spanned from a low of $30.93 to a high of $31.56. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $31.36 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Skechers Usa-A have traded between a low of $23.90 and a high of $43.08 and are now at $31.48, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Skechers Usa-A and will alert subscribers who have SKX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders skechers usa-a

Ticker(s): SKX