Phillips-Van Heusen (NYSE:PVH) crossed under its 10-day moving average of $118.85 on a volume of 282K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Phillips-Van Heusen has overhead space with shares priced $118.46, or 6.7% below the average consensus analyst price target of $127.00. The stock should find initial support at its 50-day moving average (MA) of $113.54 and further support at its 200-day MA of $93.89.
Phillips-Van Heusen Corporation designs, sources, manufactures, and markets men's, women's, and children's apparel and footwear. The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores.
Phillips-Van Heusen share prices have moved between a 52-week high of $121.26 and a 52-week low of $72.47 and are now trading 63% above that low price at $118.46 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.