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Skechers Usa-A Set to Possibly Pullback After Yesterday's Rally of 1.66%

By David Diaz

Skechers Usa-A (NYSE:SKX) traded in a range yesterday that spanned from a low of $29.90 to a high of $30.63. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $30.50 on volume of 505,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Skechers Usa-A share prices have moved between a 52-week high of $35.66 and a 52-week low of $21.45 and are now trading 42% above that low price at $30.45 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

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