Deckers Outdoor’s share price was heavily penalized and is now in an oversold situation near to a solid support area.

According to Surperformance© ratings, the company is an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements as in 2014 and the enterprise valuation conciliates with its visibility.

Technically, the security is in a negative configuration in the short term as the bearish trend of the 20-day moving average, currently at USD 64.3, shows. Nevertheless, the stock seems in an oversold situation, near to its USD 60.5 support in daily data, and this level should create a double bottom configuration. This level might stop the bearish trend in the short term.

The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Deckers Outdoor with a good timing. The potential gain is around 8%. Investors might place a stop loss order at USD 58.9 in order to avoid important losses.