One would think that after a 25% move a stock will base for a few weeks, sure doesn't feel like it and it's setting up for continuation. Above 61 and we'll gap fill to 70+. Looking decent R/R considering the support just below
don't try to catch a falling knife - that's what the long term chart would suggest.
Short term there might be room for short correction and uptick.
Not sure if the stock will react before the earnings release coming up.
FL 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...
Retail in general battered. FL down from $80 to $30... think ultimately we head sub $30 but looking for a bounce here off support into earnings.
Nice juicy gap up into $47
For a four weeks the price of FL is staying without moving. But after investigating the waves, we can observed that there is good time to buy. My estimate is that the price cannot go down under 29.95$ since it is the end of the 1st wave. The first target of the 5th wave is about 80%, it is 120% upside.
Rebound on FL stock possible:
> oversold on RSI 14
> Demark setup almost completed
> doji on the 7th month
> support line on MA 200
Let's wait the setup to be completed and bullish 9 to confirm the reversal of the trend.
Sell FL here with a buy to cover stop at 46.61. FL traded up against resistance on Market Profile pattern and suggests a sell here. FL has under-performed the SPY quite a bit lately. Look slike a good short at the current price
FL is at a interesting point right now where it could go either possibility that I drew out. I think if retailers remain weak, it might just go straight down so I will be trading it as a day trade on the short side until one of the two possibilities confirm.
Foot 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...
