28Mar10:41 amEST

Deck on Deck

Coinciding with both Major League Baseball Opening Day 2019 today as well as earnings rallies in the likes of FIVE and LULU, we ought not overlook the fact that Deckers may be, well, on DECK. 

For a while now, Deckers' bulls have done an admirable job tightening up the daily chart, below, even as retail essentially took a backseat to the various rotations we saw over the winter into the likes of software, security, and healthcare names. Nonetheless, the chart remains one of the better ones in retail. 

And with a new quarter coming right up I am curious to see whether fund mangers follow the FIVE LULU momentum and allocate funds to retail names headed into the heart of the spring months. If so, DECK becomes a highly desirable swing long setup, as the name attempts to break its latest consolidation higher. 

In addition, DECK has been a long-rumored private equity target, and the added buyout threat is a nice sweetener. 

For now, clearing $150 seems to be the initial hurdle for bulls to set in motion a fresh leg higher. 

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