FL Foot Locker has tagged and held the uptrend line several times in the last month while forming into a rough pennant pattern. We could remain in this pattern up into earnings in mid-November. I'm expecting an eventual breakout to the upside with a medium term target of $59 and longer term target of $68 by January. Adding to the bullish sentiment, we saw about 5k deep in-the-money Jan'19 call options traded today for a total premium of about $12.5M - a very bullish bet for a stock which has seen some very volatile post-earnings movements in the last year.
Note: Informational analysis, not investment advice.
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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.