$FL has a nice setup in basically every timeframe here, which suggests it could make a major move to the upside from here after next week. If it were to fall below $37 this setup would be invalidated for the most part, so watch out for that. Pays a 4% dividend, has an 11% earnings yield, and 0.42 price to sales ratio, with very low debt and actually producing EPS...
Okay, I'm a noob and hoping this will help me in my trading.
As you can see here, there is a bear flag forming on the 1hr on FL as well as what looks to be a double top on the daily.
NYSE:FL
Will go short if $38.54 resistance holds.
Looking for Puts 30+ days out.
TP1: $37.28
TP2: $36.50
TP3: $35.50
SL: $39
On this chart (1d timeframe), we can see multiple tops have appeared. Multiple tops is a bearish pattern so it's likely the price will drop. Also, there is a gap to be filled. Once the price has gone beneath the support line the trade can be entered. The price will find support in the support area, this would be the area where the profits can be taken. When it...
Everyone knows Foot Locker. While athletic footwear sales were down during the pandemic, they're back with a vengeance as work-from-home and the athleisure aesthetic have only grown in popularity (estimated to be a $77 billion business by 2025.) To consumers, sneakers hit many of these elements: practical necessity, recreation and exercise, personal style, luxury...
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 =...
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
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
