Shares of Kate Spade & Co (NYSE:KATE) were taken to the woodshed yesterday. The stock price of the apparel and accessory maker was down a whopping 25%, as it reported that margins were down year over year. Kate Spade & Co (NYSE:KATE) shares actually put in a 52 week high at $42.87, only to see investors and traders do an about face and plummet the stock all the way down as low as $28.3. Putting in an extremely bearish daily chart candle. Now with this massive decline, traders should look for an opportunity to buy the stock and go long for a quick trade to profit from. I have isolated two levels that could yield a bounce, the first is $27 and then a few points lower at $23. Watch both of these levels as multi-day bounces are expected to occur there.
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