Apparel Retailer in Strong Trend Sets up Bull Flag
Abercrombie (ANF) shares of the wildly strong retailer have pulled back to key support at the 8-day EMA and top of its new monthly value area after the big rally post earnings rocketed to new highs. Now with the stock forming an inside day candle on Wednesday showing pause it likely sets up a follow through bounce above 174 that can push back up to the 185-190 area for a quick trade and maybe eventually to the 200 round number. ANF also trades in sympathy with LULU so should get some added momentum from the positive report.