Kohl’s Clings to Key Support After Earnings Report

Kohl’s (KSS) stock is off roughly 6% after the retailer reported earnings. The silver lining is that shares were down as much as 10% earlier in the day but are being bid higher. The retailer now expects earnings of $2.80 to $3.20 per share for the year, less than half its prior outlook. Back in July, a failed buyout sent Kohl’s stock plummeting. At the start of August, I highlighted a path back to $34.50, which was good for a near-20% rally. But that level was hit this week and is now acting as resistance. If we lose this support zone, the low-$20s are back in play, which is solid support in 2020. . . .