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Kohls (KSS) - Look for Support Around 40

Kohls (KSS) has been mostly flat in 2017 after some volatility at the turn of the year. Price action in July and August so far suggest it could be turning bullish, especially if support at 40 holds.

Kohls (KSS) Daily Chart

(click to enlarge)

Breaking Resistance:
- As we can see on the daily chart, price was volatile at the turn of the year when i went almost to 60 then fell sharply.
- In 2017, price action was mostly flat but had some bearish bias, making lower highs and lower lows.
- Then, in July, price rallied to make at least a higher high as price rallied above the resistance pivot around 40 and then the resistance pivot around 42. 
- We can also see that price broke above the 200- and 100-day simple moving averages. Finally, the fact that the RSI pushed above 60 shows a loss of the prevailing bearish momentum.
- I think if this July-August push is an indication of a bullish reversal, we should see support around 40. I would say that a break below 39 could spell trouble for the bullish outlook. 
- Otherwise, if price does hold above 40, there is upside to the 44.40 resistance, and then another common resistance around 46.