Fossil sells watches, and here are the many faces

I like taking a deeper look at a stock when it appears to be at a critical inflection point on the Daily chart. While doing some chart review this morning, the Daily on $FOSL caught my eye and so I thought I would do a post on perspective by showing a few different views.

This first view is the Daily chart showing a box that has formed by price since August:

From this view, it sure looks like price may be interested in falling out of the box and fill this gap below. This is one scenario.

Next is a view of the Daily chart with just the Gap Fill area bottom which is current resistance:

Now for a more defined view of the Gap Fill area above:

Finally, a view that shows both Gap Fill areas that are potential areas for price to probe:

I have a completely different view here showing a Wedge that has formed:

Now matter what your view is going into this new trading week, there will be resolution on several of these charts. Suit up, battle stations.

  • http://www.howardlindzon.com howardlindzon

    Love these. Looks lower soon to me

    • dwmuniz

      It appears the Retail Sales numbers released this morning delayed a drop. Likely would have been a different result I think.