Earnings Play: PVH Corp.

PVH Corp.'s 1Q earnings are expected on Thursday. Here is what to look out for.

On Thursday, after market, PVH Corp. (PVH) is anticipated to report 1Q LPS of $1.68 compared to an EPS of $2.46 a year ago on revenue of approximately $1.3B vs. $2.4B last year. The company designs and markets branded apparel, and on June 2nd, it announced that the Chief Executive Officer of Tommy Hilfiger Global & PVH Europe, Daniel Grieder stepped down from his position to be succeeded by Martijn Hagman.

Looking at a weekly chart, PVH's stock price has been falling inside of a descending channel that began to form in June, 2018. Price is currently on a path towards trend channel resistance and the RSI is holding above a rising trend line. Looking over the last year and a half we can see that when price reaches the 20-week moving average after bouncing off trend channel resistance, the stock tends to consolidate before advancing. We may see some choppy price action before a potential breakout.     

Source: GAIN Capital, TradingView

Looking at a daily chart, PVH's stock price is pulling back after breaking to the upside of a rising channel. The RSI is over 50 and also holding above a bullish trend line. The stock may find support around the $53.00 level before a rebound takes place. If the stock price can break above the $70.00 level then look for a target of $77.00.  If price cannot hold above $53.00 support, look for a decline towards the $44.00 support level.      

Source: GAIN Capital, TradingView

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