Despite a tough loss after a valiant comeback in the NFC Divisional Round, the Seattle Seahawks have a roster full of young talent (namely Russell Wilson and Marshawn “Skittles” Lynch) and a bright future. What made Wilson such an impressive quarterback this season was how quickly he developed. Most rookies in the NFL take many years before they show the kind of poise he did late in the season and especially in the second half comeback against the Falcons to take the lead with thirty seconds left.
Everyone knew about Andrew Luck and RG3 being superstar rookie quarterbacks, but the emergence of Wilson reminds me of retail firm Michael Kors. Ever since KORS IPO’d in late-2011, the chart has been far more orderly than many other popular IPO’s we have seen in this cyclical bull market. On the weekly chart below, you will note what is known as the “base over base” pattern, indicating a steady ebb and flow to the price action with an inherent bullish bias literally since the IPO–A huge move higher followed by a long, mild basing period.
According to The PPT, the firm has impressive growth, ROE, and profit margins. A bright future, indeed. I view another move above $53.50, and especially $55, as a signal for an imminent leg higher. Earnings are scheduled for February 11th.