Phillips-Van Heusen: Waiting for Direction

pvh New York, December 17th (TradersHuddle.com) - Shares of Phillips-Van Heusen Corporation (NYSE:PVH) closed the trading day lower by $0.28 or -0.26% from its previous close. Phillips-Van Heusen's price action formed what is considered to be a doji close, where the open and close prices are very close to each other, mainly signaling an indecision between buyers and sellers.

Phillips-Van Heusen Corporation (NYSE:PVH) designs, sources, manufactures, and markets apparel and footwear for the whole family. The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores. The company uses multibrand brand strategy to reach different markets, some of its brands include Arrow, Van-Heusen, Calvin Klein, IZOD, Geoffrey Beene, Kenneth Cole, and DKNY.

Phillips-Van Heusen's trading range is defined by a trough, which marked calculated support at $107.70 and by a peak that set the resistance point at $117.22. These levels are closely watched by traders managing their positions.

Traders wanting to establish a position in Phillips-Van Heusen or traders that are already holding the stock can use the doji close to their advantage, since the pattern present a short-term pause in the stock's price action. This pause results in an entry point for traders depending of which way the stock resolves this short-term indecision.

The Doji is an important candlestick pattern that provides information on their own and as components in a number of important patterns. Doji form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary and the resulting candlestick looks like a cross, inverted cross or plus sign. Alone, doji are neutral patterns.

Any bullish or bearish bias is based on preceding price action and future confirmation. In the case of Phillips-Van Heusen, given that the stock finished the session lower, bears should monitor the stock, as it could reverse if it manages to trade above its intraday high. Below a Doji illustration:



Related Articles

    Related Partner Headlines

      You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      Loading
      Chart
      o Dow Jones 17,730.11 ▼27.80 (-0.16%)
      o S&P 500 2,076.78 ▼0.64 (-0.03%)
      o NASDAQ 5,009.21 ▼3.91 (-0.08%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:17,730.11 Trade time:5:20PM EDT Value change:▼27.80 (-0.16%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,076.78 Trade time:5:20PM EDT Value change:▼0.64 (-0.03%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,009.21 Trade time:5:15PM EDT Value change:▼3.91 (-0.08%)
      Copyright © 2013 TradersHuddle.com. All Rights Reserved.