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FOSL

Fossil

$26.46

-2.17 (-7.58%)

11:58
08/07/18
08/07
11:58
08/07/18
11:58

Technical Take: Fossil has a bullish pattern, large short base

Shares are coming down sharply in price ahead of earnings after the close, with the stock last down over 7.7% to $26.44. This has put price just below the top of a recent bearish price channel that began in late-June of this year. The top of the channel is at the $27.50 area and this channel was a bullish flag pattern in progress until the pullback. If the news tonight is a positive surprise, the bullish flag pattern interrupted today could become active if price crosses back above $27.50. Upside potential for this pattern if it triggered and remains active and completes is to the $35-$36 area over time. If the news is a negative surprise, a drop to the channel low at the $23 area may be possible. A drop below $23 would void the bullish flag. Next significant support would then be at the $20 area. There is a very large percentage of the float short at over 19.7% as of the last available report that could add significant buy-to-cover demand on a strong positive surprise.

  • 07

    Aug

FOSL Fossil
$26.46

-2.17 (-7.58%)

07/12/18
KEYB
07/12/18
NO CHANGE
Target $32
KEYB
Overweight
KeyBanc sees concerns on Fossil tariff exposure as 'compelling opportunity'
KeyBanc analyst Edward Yruma thinks that concerns on Fossil's tariff exposure present a "compelling near-term trading opportunity." After reviewing the USTR-2018-0026, the most recent list of $200B in annual trade goods subject to a potential 10% ad valorem duty, the analyst has concluded that wrist watches are not included and believes concerns are overdone. Yruma reiterates an Overweight rating and $32 price target on the shares.
07/10/18
07/10/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Spotify (SPOT) initiated with a Perform at Oppenheimer. 2. CME Group (CME) initiated with a Neutral at Compass Point. 3. Weight Watchers (WTW) initiated with an Overweight at KeyBanc. 4. Fossil (FOSL) initiated with an Overweight at KeyBanc. 5. Alvarion (ALVR) initiated with a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/09/18
KEYB
07/09/18
INITIATION
KEYB
Overweight
Fossil initiated with an Overweight at KeyBanc
06/04/18
KEYB
06/04/18
NO CHANGE
Target $32
KEYB
Overweight
Fossil price target raised to $32 from $25 at KeyBanc
KeyBanc analyst Edward Yruma raised his price target for Fossil to $32 from $25 has he believes the company has turned the corner - a combination of expense reductions, focus on wearables, and a more favorable secular watch environment. Further, the analyst argues that new fashion trends and millennial interest in watches seems to be driving a stabilized watch environment. Yruma reiterates an Overweight rating on the shares.

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