Iconix Brand Group (ICON) – 09-23-2009
As you can see, I’ve been lazy lately and haven’t ventured much beyond the IBD list. Iconix is a company pretty much everyone has heard of before. If you haven’t heard of them, you definitely know some of the brands they own, like Candies, Joe Boxer, London Fog, Mossimo, OP, etc. Decent growth numbers and a nice flat base make them a little interesting to me. Support here would make them a decent buy, especially given the current market conditions. Falling through could give a nice short play, since IBD stocks are typically the leaders of the bearish pack during corrections.
Triggers
- Below $16 – Momentum short
- Bounce off $16 – Swing trade long
- Above $18 – Breakout long
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