$ANF REVERSAL OPPORTUNITY AFTER 45% DECLINE
IT HAS BEEN A DRASTIC DECLINE FOR
ANF
LOSING 45% IN 1 MONTH, THIS PROVIDES A POSSIBLE OPPORTUNITY FOR A REVERSAL/BOUNCE TRADE FROM EXCEPTIONALLY OVERSOLD TERRITORY.
WE EXPECT SOME MORE DOWNSIDE AND A TEST OF SUPPORT AT $15.80 OR $14.20. SELLING HAS BEGAN TO DECLINE, WITH DECREASING VOLUME AND SOME BOTTOM FEEDERS HAVE STARTED TO NIBBLE ALREADY. THE RETAIL SECTOR IS UNDER FIRE BUT ANY GOOD ECONOMIC NEWS, A RATE CUT OR TRADE SETTLEMENT WITH CHINA SHOULD HELP STABILIZE THE SECTOR WHICH HAS VERY HIGH CHINESE MANUFACTURING EXPOSURE.
ANF
LOSING 45% IN 1 MONTH, THIS PROVIDES A POSSIBLE OPPORTUNITY FOR A REVERSAL/BOUNCE TRADE FROM EXCEPTIONALLY OVERSOLD TERRITORY. WE EXPECT SOME MORE DOWNSIDE AND A TEST OF SUPPORT AT $15.80 OR $14.20. SELLING HAS BEGAN TO DECLINE, WITH DECREASING VOLUME AND SOME BOTTOM FEEDERS HAVE STARTED TO NIBBLE ALREADY. THE RETAIL SECTOR IS UNDER FIRE BUT ANY GOOD ECONOMIC NEWS, A RATE CUT OR TRADE SETTLEMENT WITH CHINA SHOULD HELP STABILIZE THE SECTOR WHICH HAS VERY HIGH CHINESE MANUFACTURING EXPOSURE.
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