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  1. Home
  2. / Investing
  3. / Consumer Discretionary

Kohl's: Should Investors Expect Great Things?

How to play the stock following the retailer's latest earnings.
By BRUCE KAMICH
Aug 21, 2018 | 10:19 AM EDT
Stocks quotes in this article: KSS

Kohl's (KSS) was last reviewed by me in early July, where I wrote that "KSS is pulling back and could return to its breakout point around $65. If support does not develop around $65 then a deeper decline could materialize."

KSS weakened into the middle of July and then made a zigzag higher to retest the June high. Prices are lower in early trading action Tuesday. Let's check the charts again to see if this is a rally failure or a pullback to buy.

In the daily bar chart of Action Alerts PLUS holding KSS, below, we can see that the stock has been in a three-month consolidation pattern. Prices are above the rising/flattening 50-day moving average line. The 200-day moving average line is rising and bullish. The volume has slowed from late May to early August but it has picked up recently as prices have approached $80.

The daily On-Balance-Volume (OBV) line has been improving from the middle of July and is poised to make a new high for the move up. The Moving Average Convergence Divergence (MACD) oscillator has turned up to a fresh outright go long signal from above the zero line.

In the weekly bar chart for KSS, below, we can see prices above the rising 40-week moving average line. The weekly OBV line has a positive slant and the weekly MACD oscillator is poised to turn up to a fresh go long signal.

In this Point and Figure chart of KSS, below, we can see that a trade at $79.84 will be a breakout from a small double-top pattern and a trade at $80.63 will be another breakout. A potential upside target is $96.54.

Bottom-line strategy: I am sure some traders are going to buy the early weakness in KSS. I prefer to buy strength above $79.84 and $80.63. Risk below $72 and look for the mid-$90's.

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Employees of TheStreet are restricted from trading individual securities.

Action Alerts PLUS, which Cramer manages as a charitable trust, is long KSS.

TAGS: Investing | U.S. Equity | Consumer Discretionary | Earnings | Jim Cramer

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