Birkenstock Stock's Short-Term Rally Only Halfway Finished

Footwear specialist stock Birkenstock Holding (BIRK) has been moving steadily higher since its Nov. 6 two-year low of 38.16,lastseenup0.838.16, last seen up 0.8% to trade at 45.02. The equity has broken past several moving averages during its climb, most recently closing above the 80-day moving average for the first time in 21 trading days. Per Schaeffer’s Senior Quantitative Analyst Rocky White, this “crossover” event has occurred three times over the past three years, after which BIRK was higher one month later 100% of th ...