PVH Corp. - (PVH) - September 4, 2020

by SIACharts.com

Clothing producer PVH (PVH) returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since June yesterday after jumping 65 spots. PVH has climbed 264 spots in the last month.

Earlier this year, PVH (PVH) shares attempted to break out of a base, briefly clearing $58.00 then slumping back. Coming out of a summer of base building, which included a recent successful retest of the 50-day average and the $50.00 round number, PVH has come under renewed accumulation, advancing on increasing volume.

This week, PVH has staged a major breakout, blasting through $58.00 to complete a bullish Ascending Triangle base and then driving up through $60.00 toward its 200-day moving average. Next potential resistance appears in the $68.00 to $70.00 range where a measured move, round number and the June high converge. Initial support moves up to the $58.00 breakout point.

Building on a recent bullish Double Top breakout, PVH shares have continued to climb into September, breaking through $60.00 yesterday. Next potential upside resistance tests on trend appear near $65.75 based on a horizontal count and then the $69.10 to $69.80 area based on previous column highs and lows. Initial support appears near $58.90 based on a 3-box reversal. With a bullish SMAX score of 9, PVH is exhibiting near-term strength against the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

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