On Tuesday, we'll get earnings from Levi Strauss & Co. (LEVI) , but Jim Cramer said during Friday's Mad Money program that it's hard to sell jeans when every retailer in America is closed. Let's check out the charts of LEVI to see how they fit.
In this daily Japanese candlestick chart of LEVI, below, we can see that prices have been under selling pressure for the past year. The shares are below the negatively sloped 50-day moving average line and the slower-to-react 200-day moving average line. LEVI has yet to form a common candlestick reversal pattern (there are around 60 candle patterns but the 10 most common ones are my "go to's").
The daily On-Balance-Volume (OBV) line has been in a decline for the past 12 months and stands at a new low for the move down. No stabilization yet.
The 12-day price momentum study in the bottom panel shows the start of a bullish divergence where prices made a new low for the move down but the indicator has not. This tells us that the pace of the decline has slowed a bit.