Technical Summary: The longer term chart of SKC looks similar to the shorter term chart. The stock has largely traded within a tight range. Therefore the stock has been buyable towards the bottom end of the range and a better sell towards the higher end of its range. At the current juncture the stock has recently broken below an area where it has historically been buyable. From a mean reversion perspective it is likely to be a good buy at the current levels, especially with the stock moving above its 50 day moving average. A recent gap higher may give investors some sort of pause with it potentially looking overextended. One option here could be to wait for the stock to consolidate before placing buy orders.
