Heading Higher? Naked Brands (NASDAQ:NAKD)

The Naked Brands (NASDAQ:NAKD) stock was one of the targets of the Reddit community WallStreetBets and that had been the reason why the stock had hit a 52 week high of $3.40 a share.

However, the stock has corrected sharply since those heady highs and is now trading at below a dollar. The company received a boost recently after it emerged that its brick and mortar retail subsidiary Bendon is going to be sold off.

Naked Brands will get a cut of the profits in the next three years and that could be a major boost to its revenues. On the other hand, the Naked Brands management had used to Reddit fuelled rally to sell off some of the shares and pay off all the debts on its books. That is a significant move and could help the company considerably in the long term. These are significant positives and hence, investors could consider adding the stock to their watch lists at this point.

Moving Averages

+/- EMA(20)0.62 (+32.26%)
+/- SMA(50)0.62 (+32.26%)
+/- SMA(200)0.48 (+70.83%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

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