Kohl’s (KSS) has a great setup for a quick $5 swing trade, if anyone’s interested.
Kohl’s recent Dead-Cat Bounce has officially hit a key resistance:
My price target is $42. That’s a quick $5 move to the DOWNSIDE from where KSS is currently trading at ($47.20). A stop-loss at $48.50 should give you a reasonable risk-reward. If you want to leverage this move, I recommend buying KSS Oct ’13 $46 Puts, which are currently selling for $2.85.
Price Target: $42
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