$RL - Bearish Breakout On Ralph Lauren. 15% Downside.

It appears that Ralph Lauren (RL) has officially broken out of it’s multi-month Head and Shoulders/Double-Top-ish pattern. The run-up in High-End Retailers since the FED started artificially inflating stock prices, has been pretty impressive. RL is one of those stocks that has enjoyed a huge bullish run since its low of $31.22 back in 2009. That stock has rocketed approx. 600% since then. Though I don’t think the stock will CRASH, a legitimate correction is certainly a possibility; especially if RL wants to break $200, and continue its Bullish run.

Here is a Daily chart of RL:

RL - Daily Chart
RL - Daily Chart

Recommendation: SELL

Price Target: $140

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