Last week had a couple of days that will live in infamy for retailers like
WMT
,
TGT
and Ross Stores. But not Foot Locker.
The shoe retailer managed to beat earnings forecasts despite revenue missing. That suggests margins were strong and management handled inflationary pressures better than larger peers.
Prices briefly jumped above $32.50 after the report but soon retreated. That level is potentially important because it’s near the high following the sharp drop on February 25. Can prices now fill the gap to the upside?
Second, notice how FL is now trying to hold support at the 50-day simple moving average (SMA).
Third, a trendline along the recent highs could now be turning from resistance to support.
Fourth, the lows of February and May represented successful tests of the longer-term low of $26.58 from August 2020.
Finally, FL trades for less than 10 times earnings. That could make it potentially attractive to value investors.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
WMT
,
TGT
and Ross Stores. But not Foot Locker. The shoe retailer managed to beat earnings forecasts despite revenue missing. That suggests margins were strong and management handled inflationary pressures better than larger peers.
Prices briefly jumped above $32.50 after the report but soon retreated. That level is potentially important because it’s near the high following the sharp drop on February 25. Can prices now fill the gap to the upside?
Second, notice how FL is now trying to hold support at the 50-day simple moving average (SMA).
Third, a trendline along the recent highs could now be turning from resistance to support.
Fourth, the lows of February and May represented successful tests of the longer-term low of $26.58 from August 2020.
Finally, FL trades for less than 10 times earnings. That could make it potentially attractive to value investors.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.