Ok guys first of I got burnt on this one thinking it was going to sky rocket on Versace acquisition.
few things to know MK as a brand is regarded by women as cheap and "wannabe" so the global trend is going down, which si why they bought Versace. now they've opened the gate to the hottest thing in fashion "collabs", meaning if this kith partnership does good, we will see the brand start to bounce back. so we need to keep our eyes on this one. a lot of positive technical, especially with market on an uptrend. RSI is neutral, and the graph is following a natural uptrend close to the resistance line so beware.
target buys
#1 if Kith goes amazingly. buy at resistance around $44.
#2 kith goes ok buy at bottom of Ichimoku cloud. around $39.
#3 kith fails. stay away.
few things to know MK as a brand is regarded by women as cheap and "wannabe" so the global trend is going down, which si why they bought Versace. now they've opened the gate to the hottest thing in fashion "collabs", meaning if this kith partnership does good, we will see the brand start to bounce back. so we need to keep our eyes on this one. a lot of positive technical, especially with market on an uptrend. RSI is neutral, and the graph is following a natural uptrend close to the resistance line so beware.
target buys
#1 if Kith goes amazingly. buy at resistance around $44.
#2 kith goes ok buy at bottom of Ichimoku cloud. around $39.
#3 kith fails. stay away.