Foot Locker - Medium Term - We look to Sell at 38.81 (stop at 40.86)
Trading within a Bearish Channel formation. Price action continued to range between key support & resistance (30.02 - 40.00) although we expect a break of this range soon. Short term momentum is bearish. Preferred trade is to sell into rallies.
Our profit targets will be 30.34 and 24.10
...
An idea for Footlocker
Repeating Double Bottom structures throughout the evolution of price
Current Double Bottom should result in a bull reversal for price
Monthly timeframe so it might not as be relevant for all
FL
Daily chart analysis
FL has been in a downtrend for quite some time now.
It has now pulled back to the downtrend line it has created. This area will be considered an area of value.
We have stochastic reading just coming down from overbought
We also have the MACD just crossing under its signal.
Downtrend + Overbought stochastic + Pullback to area of value =...
FL has had an enormous earnings pop completely against the market on a very bearish day to end the week.
It has tagged 0.5 fib retracement which is also an area of key resistance.
RSI is the highest since 2018.
But what is really attractive is the enormous double gap both down and up.
And considering I am confident indexes are now bearish in the mid term, this...
Foot Locker
Short Term - We look to Sell a break of 37.95 (stop at 42.06)
This stock has recently been in the news headlines. We are trading at overbought extremes. A lower correction is expected. A break of 38.00 is needed to confirm follow through negative momentum. Further downside is expected.
Our profit targets will be 28.32 and 24.00
Resistance:...
The end of the negative trend?
The wedge shape seems to be broken, the movement of the indicators confirms the change. The exchange rate is looking for a direction.
The next 5 waves emerging?
Last week had a couple of days that will live in infamy for retailers like Walmart , Target and Ross Stores. But not Foot Locker.
The shoe retailer managed to beat earnings forecasts despite revenue missing. That suggests margins were strong and management handled inflationary pressures better than larger peers.
Prices briefly jumped above $32.50 after...
After earnings play. Huge gap down from $36. Load calls around 29.80 to around $30. 31.80 area seams to be resistance. Exit calls if stock price breaks below 28.80
Calls
- April 14 $35 Call; Entry between .40 and .70
- May 20 $40 Call; Entry between .30 and .50
$FL got slammed for guidance but earnings beat. Modified my chart - should have seen this coming - 5 year trend line, vol shelf, wedge all converging at the same point - needs to bake a bit longer.
NYSE:FL
It could pivot here if it flips old resistance. There is no edge at the moment and if it falls there is a lot of downside (levels in green). FL as a buy is fake news. Wait for a double bottom or a higher low.
FL 15 min breakdown after missed earnings Shorting into the 2/5/15 min opening range break using the high of the breakdown candle pivot to manage risk against
Can also manage risk against high of day Stock must be breaking the range down on increased RVOL with the negative catalyst
The increased volume on the range when it is breaking down and expaninding in the...
Earnings watch 2/25 pre-market:
FL
EOG
LI
NOG
MGI
OCGN
DSX
VST
TREE
IEP
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of...
Bullish outlook for gains at 44.10, then 46.62 and 48.92. Invalidation at 36.19.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and...
