This Retail Stock $KSS Just Triggered The Mother Of All Head & Shoulder Patterns
This morning, leading retail stock, Kohls Corp (NYSE:KSS), is falling by more than 12.0% after reporting earnings that missed estimates. The stock has been weak since it peaked on April 24, 2019 at $75.80 a share. Today, KSS stock is trading lower by $7.41 to $55.46 a share. So it is easy to see how this stock is already very oversold at this time, but the pattern that is triggering today signals more downside to come. There is a big weekly chart head and shoulders pattern that has developed and is going to possibly trigger by the end of the week. Due to laws of symmetry the pattern suggests a potential decline down to the $35.00 level. Now please understand, these patterns take time to play out. They do not complete their potential declined in a single session, they take time to complete. Traders should also note that any pattern can fail at anytime, so if KSS closes above $60.00 on a weekly chart then this pattern is no longer valid and has failed.