Price nicely broke to the upside of what it appears to be an ascending triangle,
Goo opportunity for longs .
Those formations - ascending triangles - are bullish with the uptrend reaching the length of the base of the triangle that the price broke out from .
Surprisingly in this occasion that 's the length required to fill the gap looking left after that huge...
I have been saying this is going down all week and have been incorrect even as there have been higher prices on lower volume. Today for first two hours of trading there was absolutely no volume. Opened up the following
SEP 13 $38 PUT @.19 11x
SEP 13 $35 PUT @ .05 3X
At this point if it isnt going down with this set I dont know what to think. I'm also trying to...
Not only is FL in a bear pennant formation it is now divergent. Multiple other reasons to be down on FL, just do not see it sustaining recent increase especially with dwindling volume and divergence.
Ok first of all no comments on the Van Gogh li,e drawing please.Its late and I’m no,good at graphs.
But I gave no doubt that FL is set up perfectly for bearish pennant with exit price price around 25-28. I will be opening 100 SEP 20 31. If you look at this strike price you will see OI of over 11000 so thinking someone know,something.
In terms of Pennant look...
When looking at FL set up for a down day Wednesday-just hope it does not gap down
Will open 10 $34 SEP 6 PUT with limit of .65
Looking for drop to of between $29-$31 over next 6 trading days.
Decent divergence for EOD trading and generally leads me to believe will "Catch-Up" in the AM. Also, while not a very clear or perfect Pennant, Pennant shape forming up for...
======SHORT TERM PRICE TARGET $45-$52=======.
COMPANY PROFILE
Foot Locker, Inc. engages in the retail of athletic shoes and apparel. It operates through the Athletic Stores and Direct-to-Customers segments. The Athletic Stores segment sells athletic footwear and apparel under the Foot Locker, Lady Foot Locker, SIX:02, Kids Foot Locker, Champs Sports, Footaction,...
We have here a retailer with a P/E AND P/S that puts the rest of the market to shame. We HAVE to ask ourselves when do the value investors step in? I believe that question will be answered on AUG.23rd on the back of this companies earnings. They lowered expectations and with 60% of their sales coming from Nike and with Nike beating earnings this is a good bet. I...
With the fed meeting and then china trade talks starting backing up, Footlocker looks primed for a bounce into earnings. Do your own DD. I'm playing the long side with calls on today's dip.
Goodluck.
FL
Foot Locker got to feel a beat up and an overal market over reaction for stocks that missed earnings, even if it missed tiny.
The stock dropped more than 30% in two weeks and we are getting close to an open gap at around 32$ with a nice trend line support.
In this enviroment the markets react multiple times stronger than usual, so we still need to be carefull...
