AI
Wednesday, August 29, 2018 12:21:59 PM
Movado Group Inc (NYSE:MOV) is a leading designer, marketer and distributor of watches. Today, the stock is declining sharply after reporting earnings. MOV stock is trading lower by more than 14.0 percent to $42.15 a share. Should the stock close down around this level today it would likely signal more downside to come. MOV stock is still trading above its 200-day moving average which is currently at $38.87. Any close below this key support level would indicate a move down into the $34.00 area. This would be a solid support level for MOV stock if tested. Please note, this is where the stock broke out in late March 2018. Traders and investors should expect this level to be defended when reached.
Nicholas Santiago
InTheMoneyStocks
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