(S1:E73) SKX – Skechers U.S.A – Stock Trade Alert

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Skechers U.S.A., Inc. (SKX) is showing a very bullish price pattern and it could be about to move. After a very positive earnings report, the stock rallied and has held above major resistance. It’s showing a bullish flag pattern and price squeeze. Based on this, there is a good chance it could move higher soon.

I have provided a trade idea in this video with a clear entry, stop loss and take profit.

Skechers Fundamentals:

For the second quarter 2021, Skechers sales were $1.66 billion, a 127% jump year over year. This is really impressive when you consider the COVID-19 situation, shipment delays and store closures around the world.

COO David Weinberg said “Given our global growth, we are confident that Skechers’ innovative collection of comfort footwear and apparel (is) resonating with consumers as they began returning to work, dining out, shopping and traveling”.

More About Skechers:

Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers brand worldwide.

It operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer.

The company 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, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands; sneakers, casuals, boots, and sandals for boys and girls; men’s and women’s slip-resistant and safety-toe casuals, boots, hikers, and athletic shoes; and lifestyle apparel for men, women, and kids.

As of December 31, 2020, it operated approximately 3,891 company- and third party-owned Skechers stores.

The company sells its products through department and specialty stores, athletic and independent retailers, boutiques, and online retailers; and through its e-commerce sites, concept stores, and factory and warehouse outlet stores.

Skechers U.S.A., Inc. was incorporated in 1992 and is headquartered in Manhattan Beach, California.

I AM NOT A FINANCIAL ADVISOR. THE INFORMATION PROVIDED IN THIS VIDEO IS FOR EDUCATIONAL PURPOSES ONLY. IF YOU DECIDE TO ACT UPON THE INFORMATION PROVIDED IN THIS VIDEO THAT IS YOUR DECISION. YOU ARE RESPONSIBLE FOR ALL OF YOUR TRADING DECISIONS.