A possible way to trade KSS would be to buy it on the way up if it rebounds over the next few days. My trigger price would be $44 because that was the high trade today. If it gets back there or exceeds it, the odds are that it is rallying.
I'd sell it at $50 because it was support over the past few weeks before today's selloff. So anyone who bought it then has been underwater and many of these people have said to themselves 'if it gets back to $50 sell it' so they can get out at breakeven. This will add additional selling pressure at that level so if it does rally, it will probably run into resistance there.
It gapped down from $50 to current levels so there may be an 'air pocket' of sell interest in between these levels. Just like there will most likely be additional sell interest around $50, there may be a lack of sell interest in this 'air pocket' because there weren't too many players who bought at these levels and are waiting to get out.
My initial stop-out would be $42. So that means the potential reward is $6 and my potential loss is $2. I like a 3-1 Reward / Risk Ratio. If it rallies I'd put a trailing stop on it of .50 on it.