ANF has broken daily downtrend (red line) with a bullish divergence and a strong impulse. If the rising trendline holds i'm expecting one more wave up. Are the earnings going to push the market higher on 30 August or are they going to break the rising trendline? Let's see how it develops.
Trade Direction: Neutral (hold until for consolidation & RSI drops)
Execute Price: $69.68 (look for short term pull back at around $23.50 for entry.
Price Target: $25.83
Stop Loss Target: $22.88 (2.93%)
Time Frame: 1-2 weeks
Cross at the EMA50 could signal a trend reversal upward. however RSI shows the stock could overbought. Wait for further...
I found another possible play in addition to COST and that is in ANF, which announces on Tuesday before market open.
The current implied volatility rank is 76, and its implied volatility is 97, so it would meet my general high implied volatility/high implied volatility rank standards for a premium selling play.
Given the price of the underlying, I would probably...
ANF has been experiencing a significant downward trend since early September. Each time price has hit the top of the downward channel, price has dropped, continuing the downward trend. Price tends to continue in a trend / channel.
1. Price is in a daily bollinger band squeeze
2. OBV continues on a downward slope (often an indication of the direction of the...