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DKS: Covering Trade

Booking a nice gain for McGough on Dick's here as the stock is immediate-term TRADE oversold. Brian remains bearish on the intermediate-term TREND. –KM

Keith covered DKS in the Hedgeye virtual portfolio with the stock breaking through his intermediate-term oversold support level at $36.15. While we don’t think the fundamental story is broken, we continue to be concerned near-term with the Street above management’s guidance for the quarter implying a sequential acceleration in business – particularly with pricing starting to soften in athletic apparel as retailers manage inventories ahead of the 2H.

 

DKS: Covering Trade - DKS VP 6 8 11