FREE

Deckers Outdoor (DECK) Favors Sideways Correction Before Rally Again

Deckers Outdoor Corporation (DECK), designs, markets & distributes footwear, apparel & accessories for casual lifestyle use & high-performance activities in US and internationally. It sells products through domestic & international sellers, distributors & directly its consumers through direct to consumer (D2C) business. It is based in Goleta, CA, comes under Consumer Cyclical sector & trades as “DECK” at NYSE.

DECK favors corrective pullback in II against May-2022 low & remain sideways before resume upside as the part of (III).

DECK – Elliott Wave Latest Daily View:
It placed (I) at $451.49 high in September-2021 as impulse sequence & finished (II) at $212.93 low in May-2022. Above there, it confirmed higher high bullish sequence as I of (III), ended at $1106.89 high. It placed ((1)) of I at $568.47 high, ((2)) at $484.02 low, ((3)) at $951.52 high, ((4)) at $788.37 low as flat structure & ((5)) at $1106.89 high. Below I high, it favors corrective pullback in II in proposed zigzag correction.

Below I high, it favors downside in ((A)) of II. It placed (1) at $820.52 low, (2) at $980 high & (3) at $806.90 low. Currently, it favors bounce in (4), which expect to fail below $980 high to turn lower in (5) to finish ((A)) as diagonal. Later, it should bounce in ((B)) connector followed by downside in ((C)). We like to buy the pullback later in ((C)) at extreme areas, when reached. Alternatively, it placed ((A)) at $820.52 low & favors bounce in flat correction of ((B)), while placed (B) at $806.90 low. In that case, it expects bounce in (C) to finish ((B)) against June-2024 high before turning lower. In either the case, the overall view remains same, favoring sideways to lower. It should find buyers in next extreme areas to resume rally.

Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.
Source:-forecast.com/stock-market/deck-favors-sideways-correction-rally/