About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Momentum Stock: G-III Apparel (GIII:NASDAQ)

September 12th, 2007 • Related • Filed Under

G-III Apparel has been stuck in a downtrending channel for over seven months now. Even though we are not completely out of the water yet on this one, indicators point to a continued surge in the months ahead. Any sustained move over $20 in the short-term is key to a sustainable breakout.

GIII

Look for buying support from oversold MACD and DMI buy signals (under price chart). As you can see they have both diverged in a positive fashion in the beginning of September of this year.

Our Recommendation: Buy shares of GIII at or near $19.70. Place a 5% stop loss at $18.71.

Good Investing…

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