Kohl's exposed to free fall - Analysis - 05-07-2022

Kohl's Corporation's stock (KSS) skidded after the stores chain said in ended acquisition talks with Franchise Group, sending the stock down 19.64%, or 7.01 points, and settling at 28.68, with trading volumes surpassing 33 million shares, above 10-day averages of 7.8 million shares. 

The downward correctional trend dominates in the short term, with negative pressure from the 50-day SMA, piercing the support of 34.64, while the RSI reached oversold levels. 

Therefore we expect more losses for the stock, targeting the support of 18.30, provided the resistance of 34.64 holds on.

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Expected trend for today: Bearish