Men’s Wearhouse Inc. (MW) is known for being a specialty retailer of men’s suits and a provider of tuxedo rental products in the United States and Canada. The stock is currently trading around $58.32 at the upper end of its 52 week range of $39.77-$60.67. The stock has been outperforming the market this year rallying 31.62% year to date. MW is scheduled to report earnings after the closing bell today, and the stock is lower on the session by around $0.15 or 0.26% ahead of the close.

Over the past 12 quarters MW has rallied on earnings day 7 times with an average move of 8.69%. The stock appears bearish on a chart going into the release having traded below the Ichimoku Cloud on intraday time frames where it is trading in or below the cloud on the 5 min bar. Over the past 12 quarters MW has rallied from earnings to the nearest options expiration 5 times with an average move of 8.84%. The stock looks as if it could continue its trend and drop to the downside further in today’s session. Investors are mainly looking to see how the new Chief Digital Officer will grow sales. Ben Baum has launched a new e-commerce initiative to take tailoring online in hopes of raising sales.

The options market is currently implying a move of around $3.75 or 6.4% in MW by this Friday’s close giving us targets of $62.07 and $54.57.

Andrew Keene

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