ANF double top with negative divergence. Time to buy a put??
ANF has been on an absolute tear. Is it warranted?? Yes, their earning have drastically improved, but is this growth sustainable with continued increases in credit default rates?
This brand has no cult following like that of Lululemon.
YTD +40%
1 year chart +331%
+66% previous peak in 2007 when this clothing brand was the one and only for teens.
Currently trading 100% over 200-day moving average
Recently broke above resistance and will retest this channel.
Starting to look like a double top with negative divergence.
I will keep a close eye on this stock as it retests the top of the previous channel. If it bounces,
I will exit the position. If it falls through we should be good.
This brand has no cult following like that of Lululemon.
YTD +40%
1 year chart +331%
+66% previous peak in 2007 when this clothing brand was the one and only for teens.
Currently trading 100% over 200-day moving average
Recently broke above resistance and will retest this channel.
Starting to look like a double top with negative divergence.
I will keep a close eye on this stock as it retests the top of the previous channel. If it bounces,
Based off current price ($131.37) that would imply either $151.07 or $111.66.
I never trade around earning, but this one is tempting.