PVH Corp. (PVH) moved lower in recent intraday trading after successfully working off its previous oversold conditions on momentum indicators. Those indicators have now reached excessively overbought levels relative to the stock's price action, signaling a rapid loss of the positive momentum that had recently supported the stock. This development threatens the sustainability of the latest gains, particularly as a short-term bearish corrective wave remains in control. Additional downside pressure persists as the stock continues to trade below its 50-day Simple Moving Average (SMA).

Therefore, our outlook remains bearish for the stock's upcoming trading sessions, as long as resistance at $82.30 remains intact. Under this scenario, the stock is expected to target the $69.15 support level.

Today's price forecast: Bearish.