Kohl's near Key Resistance Area

Published on Tuesday, 31 August 2010 19:00 Written by Christopher Lynn

New York, August 31st (TradersHuddle.com) - Shares of Kohl's Corporation (NYSE:KSS) are trading very close to calculated resistance at $47.98 with the current price action closing at just $46.94 placing the stock near levels that make it difficult to buy.

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 current calculated support defined at $44.07 and by the resistance level at $47.98, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for Kohl's, as the stock is well above support, however, as the stock pulls back towards $44.07 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $47.98 then traders will get an opportunity to enter Kohl's stock by establishing a position as the stock moves to a higher range.