Crocs (CROX) has been basing for the past nine months. Maybe it is time to try a pair or a round lot on for size.
In this daily chart of CROX, above, we can see how dips to $9 and $8 have been bought over the past several months. The On-Balance-Volume (OBV) line turned up in May, signaling that buyers of CROX had become more aggressive in adding to their positions. Prices are over the 50-day and the 200-day moving averages and it looks like these lines could soon cross for a golden cross buy signal.
In this weekly chart of CROX, above, one can see that prices are above the now flat 40-week moving average. On a weekly time frame the OBV line has been rising since January, which suggests a lot more accumulation than the daily chart. The Moving Average Convergence Divergence (MACD) oscillator has been moving up and is near a cross of the zero line -- an outright buy signal.
Traders looking to go long CROX could use a dip toward $10 to start a position and a close above $11.50 to add to positions. A close below $9 at this stage would turn the chart weak and extend the base pattern.