PVH stock broke out earlier, but is now about 3% below the prior 116.79 entry from a cup with handle. If a stock you’re tracking clears a buy point then declines 7% or more below the original entry price, it’s considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the most recent pattern is a later-stage base, and those involve more risk.
PVH, formerly known as the Phillips-Van Heusen Corporation, is an American clothing company which owns brands such as Tommy Hilfiger, Calvin Klein, Warner’s, Olga and True & Co. The company also licenses brands such as Kenneth Cole New York and Michael Kors.
PVH Stock Hits Key Benchmark
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD’s proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the top-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
While revenue growth fell last quarter from 55% to 46%, the bottom line grew 1,992%, up from 0% in the prior report.
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