Michael Kors broke above its intermediate term trading range recently after beating earnings and seems like its bound to start a new uptrend. Here is the chart along with our thoughts.
As you can see prior to the breakout Michael Kors was trading within the 48-58 range. We believe 58 will become a new support level as the stock continues its move up. The 4 day moving average and 9 day moving averages are indicating a trade-able move up in the near future. The MACD indicates that bullish momentum is rising an indication that the move up might have potential.