Footwear Retailer Forming Bull Flag Ahead of Earnings
Foot Locker (FL) shares are coiling in a tight bull flag near recent highs and showing great relative strength in a sluggish market tape. FL has earnings due on 3/20 and could see a run into the report setup as it also has a higher short float of 10.5%. FL held the bottom of monthly value today at 43 and now can see a breakout above 45 with potential target up to 49, an untested VPOC from last year. A close back under 43 would be a stop loss level.