Foot Locker, Inc.Short
FL "Foot Locker" coming in HOT ahead of earnings
Footlocker has been on a 36% run in the last 3 months following it's second miss on earnings for the year on August 23rd. During this time the stock as formed a rising wedge which could breakout to the downside on any negative news. They've been dealing with Macroeconomic headwinds, as well as a drastic decrease in sales due to customers spending less and less on discretionary items. Yesterday Citi Group downgraded them to $18, yet they pushed higher today. All in all I believe "FL" has exhausted any bullish momentum that they could have possibly gained heading into earnings. That being said I believe we could see a fall to around $17 give or take.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.