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FL - Reversal towards earnings ?Hello Everyone! Looking at the daily chart of Foot Locker it is quite interesting to spot the divergence between price and RSI once it reached the upper Bollinger Band and the previous bounce of the price off its 100 sma. Considering that FL has recovered almost all have been lost during the pandemic, and earnings are coming on 20th November, it seems there is plenty of time for the divergence to take place pushing the price down to its 100 moving average or close to that, perhaps in coincidence with Fibo retracement of 38,2%. Unless earnings will bring a negative surprise, prepare for another bounce... Thanks for reading and leave a comment if you like to do that and....may the market be with us!
NYSE:FL
by Carlopiranha
2
$FL is going to be falling todayLow volatility stock intraday trading strategy signal. $FL chart shows appropriate parameters to open position. Also, the true range is low enough today, so the price has good potential to fall. I suppose, the price will be falling until market close, so short sell can be from $32,75; stop-loss — $33; take-profit — $32 or market close price. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NYSE:FL
by KozakHlib
FOOTLOCKER LONG INTO EARNINGSWe have here a retailer with a P/E AND P/S that puts the rest of the market to shame. We HAVE to ask ourselves when do the value investors step in? I believe that question will be answered on AUG.23rd on the back of this companies earnings. They lowered expectations and with 60% of their sales coming from Nike and with Nike beating earnings this is a good bet. I see a 17% upside on the back of good earnings. Stop loss at 36, Take profit at 47. Good luck.
NYSE:FLLong
by cryptorichhh
Foot Locker: How to Trade A Stock That Gaps and CrapsFoot Locker: How to Trade A Stock That Gaps and Craps March 4, 2019 by Dr. Duru Foot Locker (FL) reported earnings before the market opened on March 1, 2019. The initial reaction to the news was extremely positive: FL gapped up 14.0%. Sellers took over from there and pushed the stock down to a close with a 6.0% gain. The stock still managed to close above its upper Bollinger Band (BB), so technically it remains extended. {Foot Locker (FL) printed a major post-earnings breakout to a 21-month high. Sellers faded the stock off its intraday high for a 6.0% gain at the close.} This gap and crap (or trap) was dramatic. However, since the stock still closed the day with a substantial gain, this gap and crap is not a topping pattern in of itself. The stock still has a “decent” chance to recover its post-earnings strength after what is called a “calm after the storm” pattern. In the case of FL, the storm is the post-earnings gap up. The calm will be a relative deceleration in the trading action where volume and the daily price range contracts for a short time period. Sometimes this period looks like a brief consolidation where the stock drifts. Ideally, the stock will reverse the entire post-earnings gap to provide a definitive test for traders (buyers in the case of FL). Swingtradebot describes a calm this way: In the days after a “storm”, the stock must make an NR7, a narrow range bar (NRB) (day’s range less than half the stock’s average true range) or have a real body (distance between the open and the close) less than half the stock’s average true range (which might catch reversal candlesticks like doji, hammers or shooting stars). The buying opportunity occurs at any given point during the calm – a 1 to 3 day wait seems typical. For FL, the clear stop-loss would be at a new post-earnings low. At such a point, trading with the on-going downward momentum makes sense. I will probably use options to trade FL in the immediate post-earnings period. On the long side, I might start with a calendar call spread at the $65 strike for a 2-week trade. For longer time periods, I would go for the $70 strike. I set the strike at a point where I think the stock can reach but not surpass before the short side of the calendar spread expires. This options configuration also assumes the upward momentum will continue apace after the short side expires. If I am buying options several days into the calm, I would go for straight call options under the assumption that the resumption of upward momentum is imminent and will be strong. To the downside, I like a put spread with the bottom of the spread set around $54 where the 50 and 200-day moving averages (DMAs) are converging to provide support. FL is a heavily shorted stock with 9.8% of its float sold short as of February 14th (per Yahoo Finance). I am guessing that short-covering helped to exaggerate the move higher after bears saw the good headlines on earnings like “Fourth Quarter Comparable Store Sales Increased 9.7%” and “A Record Total Annual Sales of $7.9 Billion.” Guidance was also strong: “…we can continue to elevate our financial performance by generating a mid-single digit comparable sales gain and another double-digit percentage increase in earnings per share.” Moreover, the company continues to express great confidence in its business by returning a lot of cash to shareholders. From the transcript (emphasis mine): “During the quarter, we repurchased a total of 1.2 million shares for approximately $62 million, bringing our full year total to 7.8 million shares at a cost of $375 million. We also returned $158 million of cash to our shareholders through our quarterly dividend in 2018, which brought our total return to shareholders for the year to $533 million. As we announced in February, our board increased our quarterly dividend payout rate to $0.38 per share and authorized a new 3-year $1.2 billion share repurchase program. “ If a calm unfolds after this storm, I am guessing it will come as a result of the end of profit-taking from the over-extended condition at least partly created by shorts scrambling to cover. {Foot Locker (FL) has trended generally upward since a major bottom in November, 2017. The stock is in its final push to recover losses that started with earnings in May, 2017.} Full disclosure: no positions
NYSE:FL
by drduru
$FL Foot Locker Holding Support - $12M Bullish Options Bet$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.
NYSE:FLLong
by Triple_Barrel_Capital
Foot Locker Set To Take Large Strides Over Next 3-4 MonthsFoot Locker is setting up to fly high over the next 3-4 months before reaching its next top. This top coincides with my projected market top during the October/November timeframe this year. Based on comparative trend analysis and derivative analytics, Foot Locker should reach its next top between August 9 and November 20 of 2018. The top should occur between 62.12 and 68.84. The minimum move to 62.12 from today's close of 51.92 would generate 19.64%. I am expecting the top to occur in early to mid October around 64.41. Unlike some of the other stocks I am following, The 2019 pullback for Foot Locker should not be as drastic as the rest of the market.
NYSE:FLLong
by StockSignaler
Going long FL on WednesdayFL is printing a bullish hammer canldestick price bar near the 11/17 gap-up LOD on above average volume with my momentum/trending oscillators confirming the price move. I am going long FL Wednesday morning using a limit order (GTC-BUY-LMT) @ 40.45. I will have two trailing sell stops (GTC-SELL-STP) @ 38.66 and 38.25 to protect my initial invested capital in case FL does not move higher immediately. I am expecting the stock to move up and through its August and May resistance levels with a new 52-week high being the ultimate goal in the intermediate term.
NYSE:FLLong
by BigWaveTrading
THE WEEK AHEAD: VIX, SPY, IWM, QQQ, DKS, FL, TEVAUnless you've been living under a rock somewhere, you'll know that last week we experienced a pop in VIX. Ordinarily, this would get me somewhat excited to put on broad market index exchange-traded fund stuff in SPY, IWM, and QQQ. However, running my standard defined risk setups in those underlyings has led to minor disappointment -- while they are paying more than last week due to the increase in implied volatility, they still aren't paying enough, in my opinion, to bother with putting on; we simply need higher back month implied volatility for those to pay if I'm going to stick to my guns and only put these on when they're paying at least one-third the width of the widest wing. Even if I go out to the October expiry, a 20-delta three wide is only paying .91 in the QQQ's, .81 in IWM, and .81 in SPY (at this point in time, going with the September expiry is too close in time; October's too far out; and the September quarterly needs to populate a touch more to be workable, so that set of circumstance militates in favor of just waiting anyhow). As far as earnings are concerned, there are couple of underlyings with >70 implied volatility rank and >50% implied volatility that might be worth doing earnings plays on: DKS, which announces on Tuesday before market open and FL, which is tentatively scheduled for some time on Friday. With non-earnings, only TEVA has the metrics I'm looking for. Because of the size of the underlying, I'd probably go short straddle or fly; the Sept 15th 17.5 short straddle is paying 2.21 with break evens slightly wide of the expected move, and the Sept 22nd 13.5/17.5/17.5/21.5 iron fly (you'll want to go with a weekly to have access to half strikes), is paying 2.08 with a buying power of effect of 1.92, theta of 1.30, and 2.27 long delta. For traders who are not adverse to acquiring shares of this beaten-down generic drug maker, the September 20 delta short put at the 15 strike is paying .37 at the mid with a break even of 14.63; the Sept 29th 15 is paying .47 at the mid with a break even of 14.53. A more aggressive play would be the September 29th 30 delta at 15.5, paying .61 with a break even of 14.89. Because of the VIX pop, a "Term Structure" play may be in the offing. Although the first VIX future trading at greater than 16 is in the January expiry (156 days out), the November 16/19 short call vertical (93 days out) is paying .70 at the mid, which is what I look for in these plays (.65-.75 for a three wide). That being said, September, October, November, and December expiries maintain a flat aspect relative to spot here, trading at 15.27, 15.52, 15.73, and 15.72, so it may be worthwhile to wait and see if those front months "smooth out" such that each successive back month is higher than the previous one. The current structure is basically trading with "flat volatility" in mind between 15.25 and 15.75 from September to year's end .... .
TVC:VIX
by NaughtyPines
1
Foot Locker Incorporated (FL) Always Rises When This HappensFoot Locker Incorporated has been in a bullishtrend since 2008. It has however, been moving downward since its most recent earnings call. On multiple occasions through this trend, three of the technical indicators discussed below are at similar or lower levels, than they are now. These instances have resulted in nice short-term gains for the stock. I have laid out the reasons and levels to which the stock may gain while it most likely continues its long-term trend. When we look at technical indicators, the relative strength index (RSI) is at 19.7756. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI oversold. The positive vortex indicator (VI) is at 0.7989 and the negative is at 1.2480. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The negative value is high, meaning the stock has been moving down, and is continuing to do so. The momentum has begun to slow and the positive value is beginning to move upward. The stock should begin rising soon. The stochastic oscillator K value is 6.2597 and D value is 5.3371. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The stochastic is very oversold. I cannot sit at this level much longer. Once the D value crosses above the K, the stock should begin to rise. SPECIFIC ANALYSIS I have created an algorithm (called the SAG gauge) which signals when stocks are truly overbought and oversold. The algorithm indicates when a particular stock meets multiple criteria which culminates in an oversold or overbought alert. That signal will occur within the next few days. The one more day of gains should create the signal. Because this signal will go off after continued gains, now is the best time to enter a position and take greater advantage of the pending upward movement. Upon back-testing this indicator, it has signaled oversold status 72 times in the history of the stock. Eighty percent of the time the stock gains at least 2.50% over the following 30 trading days after the indicator date. Seventy percent of the time, the stock gains 5% and fifty percent of the time gains 11%. In the history of this stock, it always gains a minimum of 3.64% when the negative VI is at or above its current level at the same time the RSI is oversold at or below its current level. This additional study requires the stochastic to be oversold as it is today too. Thirteen similar occurrences were studied. The median gain for the stock is 10.57% and the gain takes a median of eight trading days to occur. Seven of these instances occurred at the same time the SAG gauge determined the stock to be oversold. The minimum gain for these instances is 9.38% and the median gain is 19.70%. All of these statistical gains happen fast so anticipating the stock to go up and up is not recommended. The maximum movement for this stock could occur within the next 15-25 days. Considering the RSI, VI and stochastic levels, the overall direction favors a move to the upside. Based on historical movement compared to current levels and the SAG gauge, the stock could gain at least 5% over the next 35 trading days if not sooner.
NYSE:FLLong
by StockSignaler
1