The Fibocall: Kohl's Corp

This article originally appeared on RealMoney.com on Sept. 2, 2014 at 9:45 a.m. To read more content like this AND see inside Jim Cramer's multi-million dollar portfolio for FREE... Click Here NOW.

The summer is now over, portfolio managers and traders return to work this week. Children of all ages are headed back to school too, so what better time to look at a retail equity with a recent long-term signal?

Today, The Fibocall will discuss Kohl's Corp  (KSS)  to see if there are trading opportunities for our readers.

The stock of the department store operator generated a long-term overbought signal on August 26 and it has made lower daily highs since then.

STOCKS TO BUY: TheStreet Quant Ratings and Dave Peltier's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12 months. See them FREE today... Click Here NOW.

KSS's first support level is at $57.78 (0.236 retracement form the July 14 low of $50.90 and August 26 high of $59.90.).

The stock had projected resistance at $59.93 (1.236 retracement level from the April 4 high of $58.20 and the July 14 low of $50.90), as it reversed with the August 26 high of $59.90.

Short-term levels for focus on in KSS are the August 29 high of $59.40 to keep the recent trend of lower daily highs intact, and a re-test of the breakout from the April 4 high of $58.20.

A close above $59.93 can be used as a cover for any short term shorts.

If you liked this article you might like

Watch Out For the Dominoes That Fall: Cramer's 'Mad Money' Recap (Wed 9/20/17)

This Is How to Avoid Becoming Amazon Roadkill

Cramer: Dominoes Are in Play Today

How Long Can This Rally Run?: Cramer's 'Mad Money' Recap (Monday 9/19/17)