If you read the past two weekly market reports you will have noticed that we featured extended stocks and their near term resistance areas. These reports included very good stock resistance levels for pullbacks. Take note of how well these levels worked, and if utilized in trading would have presented incredible profit opportunities – which for the Pros and our subscribers they supplied just that. In this week’s report we shall feature three different stocks that made new 52 week highs this past week. Believe it or not, there are still stocks out there that are doing well despite all of the stock market volatility due to the debt ceiling debacle in Washington DC.  Let’s review them here and note the next key levels you need to know.

Deckers Outdoor Corp. (NASDAQ:DECK) is a leading designer and manufacturer of footwear and accessories for outdoor activities. This company is probably best known as the maker of the popular UGG shoes and boots. Last week, Deckers stock rallied to a new 52 week high after reporting earnings. Traders and investors should now watch for short term resistance around the $100.70 area. Should the leading footwear stock climb above that near term resistance point the next major resistance levels are $105.80, $111.00, and $115.85. Traders can watch for resistance at each of these levels unless price consolidates below the resistance area which would make that resistance point minor. Should Deckers stock pullback or decline traders should watch for support around the $91.50, and $85.00 areas.

True Religion Apparel Inc. (NASDAQ:TRLG) is a leading designer and manufacturer of jeans and sportswear apparel. This stock surged to a new 52 week high July 29, 2011 at $33.69 a share. Last week the stock reported better than expected earning and has reacted well despite the weak stock market. While the stock looks strong here is the only negative that is on the chart, the stock is trading into a double top resistance level from April 26, 2010. This was a major resistance area at that time and is likely to serve as resistance at this time, at least in the short term. Traders should watch for resistance around the $34.00 level in the short term. The next important resistance area for the stock should be around the $36.75, and $40.00 levels. Should TRLG stock pullback or decline from its current level traders should watch for support around the $31.00, $28.50, and $27.00 levels.
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Crocs Inc. (NASDAQ:CROX) is another leading designer of and manufacturer of footwear and apparel for men, women, and children. This stock broke out in early May 2011 from a long five month base when the stock was trading around $20.00 a share. On July 29, 2011 the stock closed at a new 52 week high at $31.33 a share. Traders must now realize the stock is starting to get extended on the daily chart, therefore, further upside could be limited in the short term. Traders should watch for near term resistance around the $32.00 level. Should the stock trade above that near term resistance point the next resistance areas for the stock will be around the $34.60, and $38.00 levels. CROX stock will have support around the $28.00, and $25.00 levels should the stock reverse and sell off from the current area.


Nicholas Santiago
InTheMoneyStocks