Will skx rise today?

Skechers U.S.A., Inc. (SKX) is likely to experience a rise in its stock price today. Here's the analysis to support this conclusion:

1. Recent Positive News and Events: Skechers has recently announced its second-quarter 2024 financial results, which are expected to be strong. The company has also authorized a $1 billion share repurchase program, indicating confidence in its future performance.
2. Financial Performance: Skechers has reported record sales of $2.25 billion for the first quarter of 2024, and the company's GAAP EPS of $1.33 beat the expected $1.23, with revenue exceeding estimates by $50 million[^49d]. This positive financial performance is a strong indicator for a rise in the stock price.
3. Analyst Ratings and Price Targets: Skechers has received a balanced financial outlook with a Hold rating from TipRanks, which suggests that analysts expect the company to maintain its current performance[^49d]. Additionally, several analysts have affirmed a Buy rating for SKX, citing robust demand and market position.
4. Technical Indicators: The stock's 5-day and 10-day moving averages are $64.09 and $65.16, respectively, and the support level is at $63.03 with a resistance level at $64.78. The stock is trading above its 5-day and 10-day moving averages, indicating a bullish trend.

5. Market Sentiment: The sentiment around Skechers is positive, with analysts expecting growth and market expansion potential. The company's strong consumer demand and DTC growth support a Buy rating with a new $71 price target[^132d].
6. Short-term Trend Forecast: The short-term trend forecast for SKX is not available. However, the stock's recent performance and the upcoming earnings release date suggest that there is potential for a rise in the short term.

In conclusion, given the recent positive news, strong financial performance, analyst ratings, and bullish technical indicators, it is likely that SKX will experience a rise in its stock price today.