Crocs Intraday Reversal.

Today's Crocs Intraday Reversal from $78.65 and closing at $76.99 was a bit disheartening. But no stock can go up everyday. Volume edged up a bit from Friday's run. The trend line in this chart is intact and the stock has gotten a bit above this line. I expect this stock to retest this trend line and bounce tomorrow. I don't think that this stock's run is done just yet. It has just too much momentum behind it and like its counter parts Amazon (AMZN), Mastercard (MA), Buffalo Wild Wings (BWLD), and Apple (AAPL), it has much more upside to complete. Amazon broke out of three weeks tight formation and catapulted. While Crocs has not formed that type of consolidation, it has been using the trendline to establish a measured upside move.

I continue to keep eyes peeled as complacency only leads to losses. Today's reversal will be noted and few more days like this would indicate that there is heavy dose of selling into strength. But after a run up like Crocs has experienced the last few weeks, I don't think this action is out of ordinary and expected. But there are a lot of people waiting on the sidelines that are looking for a pullback to get in. I don't know if we will get any significant pull back other than a sideways consolidation that might occurr.

Historically stocks that are near record date for split generally ramps up into the actual split date and then most stocks experience a basing period where by traders take profits. We will see on that end.

Chart still remains bullish with a small dose of healthy skepticism.

On this Daily chart, we can see that the trend line is providing nice support as this stock runs up. A small hiccup today should not worry you just yet. Actions like today shows that people took profits and sold into strength. We will see the character of this stock tomorrow which may be down to sideways movement. But who really knows.



Consider this weekly chart shows healthy momentum, rising up volume, and intact uptrend from high tight flag formation.