Buy for 2-4 week reboundHitting support.
Not good to buy and hold through long weekends for traders, but this one will probably take more than a few days to reach its next peak. Expecting to hold for a month. If it starts to dip, will either sell and re-buy at the second level of support or just add to position at second support depending on RSI
Know before you go.
ANFD trade ideas
ANF Earnings and chart analysisI am not sure if the wave pattern will complete itself as there is weaker retail sales in clothing and food (according to US Census Bureau). I am convinced that the company's fundamentals look good. The only dilemma in choosing long position is increased cotton price as well as lower retail sales. If anyone has anything to add, please do so (in the comments)! Comments and positive criticism is much appreciated.
Thank you.
ANF Entry - Significant Shifting at all time lowRecent events in the industry with sector support are spiking several stock in the retail fashion field, ANF is strategically placed in this time and buyers are showing their interest at all-time-low.
For me, there are enough signs to support the attempt to build a position in the stock.
*Already holding in the fashion sector at AEO which also spiked and moved nicely, linking the trade here.
Long IdeaAbercrombie & Fitch Co is a retailer that sells apparel including knit and woven shirts, and graphic t-shirts under Abercrombie & Fitch, Abercrombie kids, and Hollister brands. It operates online stores as well as direct-to-consumer operations. Price chart broken a year long base formation. This could push the stock up to 23 Zone.
Bullish EngulfingBullish engulfing candles indicate immense buying interest that swallows the range of the prior candlestick low and surpasses the candlestick highs. The buying action is frenzied as the candle usually closes at its highs with little to no upper wick. This in turn triggers more buyers who spill over into the next candle. If the next candle closes higher than the bullish engulfing pattern, the next leg of the uptrend usually forms. www.investopedia.com
9.4.17 | ANF | Rising WedgeANF
(Code-Name_Virtue) Minor/Secondary Trend Press Release
Price has completed a Big W chart pattern and is now forming a Rising Wedge chart pattern. There is $.49 of daily volatility left in the Wedge with many strong supply values that price will be trading in if it continues bullish on Tuesday. The consensus is that price is going to reverse bearish this week, it may continue bullish on Tuesday due to the shopping from the holiday weekend however selling the high of tomorrow is sensible speculation.
(Keymaker)
Entry: Sell the high of the intraday chart.
Target: Exit when you're comfortable.
Stop: Use a 1:3 risk reward ratio.
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