Is Kohl's Trade Over?

Published on Wednesday, 28 July 2010 17:48 Written by Danny Miller

New York, July 28th (TradersHuddle.com) - Shares of Kohl's Corporation (NYSE:KSS) ended the trading session lower by $0.6 or -1.24% from its previous close. Kohl's Corporation price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Kohl's Corporation (NYSE:KSS) operates a chain of family-oriented department stores. The stores feature apparel, footwear and accessories for women, men and children; soft home products such as sheets and pillows; and housewares targeted to middle income customers.

Kohl's Corporation current stock range is defined by calculated support defined at $45.29 and by the resistance level at $53.68, which should be used by traders planning their trades.

Traders wanting to establish a position in Kohl's stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Kohl's shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: