AI
Monday, September 24, 2018 12:26:04 PM
Earlier today, it was reported that Michael Kors Holdings Ltd (NYSE:KORS) was in talks to buy Versace group for $2.4 billion. This news is causing KORS stock to plunge lower by more than 8.0 percent to $66.73 a share. So far today, the stock has been defended at its 200-day moving average around the $66.00 level. A failure to close below this key support area would trigger another leg lower for the stock. The next major support area for KORS stock will be around the $59.50 area. This is where the stock was defended in June 2018 and will likely be defended again when retested.
Nicholas Santiago
InTheMoneyStocks
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