#Premarket Possible Breakout on Strong #Earnings

Mar 7, 2018

Technicals:
1. Trading 22.70 in premarket, up 6.32%, as of writing
2. MACD has pinched and is currently turned up
3. Price has tested its MA's, and is currently sitting above its 200/100/50/20
4. All-time highs are at 23-23.50 range
5. Primary support represents a neckline at ~21.59

Fundamentals:
Strong Earnings: https://www.marketwatch.com/story/abercrombie-fitch-shares-rise-nearly-7-after-earnings-blow-past-consensus-2018-03-07?siteid=yhoof2&yptr=yahoo

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For the complete technical analysis on this swing trading set-up, click here: https://compoundtrading.com/swing-trading-periodical-contact

Mar 7, 2018

Trade closed: target reached

Price broke over previous highs, and established a new support level there at 23.47.