FIT - Today's Research Reports on Trending Tickers: Skechers and Fitbit

NEW YORK, NY / ACCESSWIRE / September 13, 2018 / U.S. markets were mixed on Wednesday as technology shares declined, dragging the Nasdaq into the red. The Dow Jones Industrial Average climbed 0.11 percent to close at 25,998.92, while the S&P 500 Index jumped 0.04 percent to close at 2,888.92. The Nasdaq Composite Index dropped 0.23 percent to close at 7,954.23. Additionally, Apple’s revealing of its new products the iPhone XS, iPhone XS Max and iPhone XR, didn’t trigger an increase in shares.

According to J.J. Kinahan, chief market strategist at TD Ameritrade, “There’s not any great big news to trade on, so it’s likely we’ll primarily be moving on headlines, which means we can be up one hour and then moving down the next.”

“You have to separate a natural selloff from one driven by a real change in the market. It makes sense that we could see some selling after a remarkable year and a half, especially in areas like tech that have done well. But I don’t see a tone change in the market; the numbers continue to point to a strong economy,” Kinahan added, referring to latest market weakness.

RDI Initiates Coverage on:

Skechers U.S.A., Inc.
https://rdinvesting.com/news/?ticker=SKX

Fitbit, Inc.
https://rdinvesting.com/news/?ticker=FIT

Skechers U.S.A., Inc.'s stock moved 7.94% lower Wednesday, to close the day at $26.42. The stock recorded a trading volume of 8,148,320 shares, which was above its three months average volume of 3,422,282 shares. In the last year, Skechers U.S.A., Inc.'s shares have traded in a range of 23.80 - 43.08. The share price has gained 11.01% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $28.83 is below its 200-day moving average of $32.47. Shares of the company are trading at a Price to Earnings ratio of 21.94. Shares of Skechers U.S.A., Inc. have fallen roughly 9.8 percent in the past month and are down 30.18 percent year-to-date.

Access RDI's Skechers U.S.A., Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SKX

On Wednesday, shares of Fitbit, Inc. recorded a trading volume of 8,900,217 shares, which was above the three months average volume of 5,907,128 shares. The stock ended the day 6.9% lower at $5.53. The share price has fallen 29.01% from its 52 week high with a 52 week trading range of 4.51 - 7.79. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $5.82 is above its 200-day moving average of $5.74. Shares of Fitbit, Inc. have gained roughly 0.18 percent in the past month and are down 3.15 percent year-to-date.

Access RDI's Fitbit, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FIT

Our Actionable Research on Skechers U.S.A., Inc. (NYSE :SKX) and Fitbit, Inc. (NYSE :FIT) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com