(Finance) – A decidedly positive session for Deckers Outdoorwhich is trading up 7.52%.
Helping the stock were first-quarter results that saw sneaker brand Hoka’s sales rise 29.7%, versus Ugg’s 14.0% gain and Teva’s 4.3% decline.
In the period, the California-based footwear company’s revenue rose 22.1% to $825.3 million, versus the consensus estimate of $808.4 million.
Deckers Outdoor raised its full-year earnings guidance from $29.50-$30 per share to $29.75-$30.65.
Comparing the performance of the stock with theS&P-500on a weekly basis, it is noted that the Distributor of footwear, clothing and accessories maintains positive relative strength compared to the index, demonstrating greater appreciation by investors compared to the index itself (weekly performance +2.02%, compared to -1.83% of theUS Basketball Index).
The overall technical context highlights bearish implications that are strengthening for Deckers Outdoorwith negative pressures such as to force the levels towards the support area estimated at 877.8 USD. Contrary to expectations, however, bullish pressures could push prices up to 955.8 where an important resistance level is located. The dominance of the bears fuels negative expectations for the next session with a potential target set at 850.9.