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benedekdomotor

Falling wedge pattern

Long
American Eagle Outfitters, Inc. (NYSE:AEO)  
benedekdomotor  
NYSE:AEO   American Eagle Outfitters, Inc.
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
A beautiful falling wedge appeared on the weekly chart. Normally, this is a bullish pattern. Combining it with the indicators, also with the price movements, then we get a bullish outlook. MACD indicator just painted a bullish divergence with higher lows on the indicator and lower lows on the chart. Besides that, we retested Dec 13. lows and it failed to sink below.
Support-Stop: 21,97
Resistance: 25,68
Target: 27,76

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