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Skechers Usa-A Set to Possibly Pullback After Yesterday's Rally of 2.18%

By Shiri Gupta

Skechers Usa-A (NYSE:SKX) traded in a range yesterday that spanned from a low of $28.45 to a high of $29.24. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $28.88 on volume of 958,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Skechers Usa-A on June 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.99. Since that recommendation, shares of Skechers Usa-A have risen 6.0%. We continue to monitor SKX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Skechers Usa-A share prices have moved between a 52-week high of $32.71 and a 52-week low of $18.81 and are now trading 55% above that low price at $29.09 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.4%.

Keywords: rebounders skechers usa-a

Ticker(s): SKX