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Posted by ZorTrades

Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker.

Trying On Skinny Jeans With ANF

by ZorTrades on December 18, 2013

in Stocks, Technical Analysis

I believe $ANF set up is a decent low risk decent reward  long trade if goes through today’s high of 31.86.  The stock is oversold in the short term and probably has seen added pressure from the fact that they were kicked out of the SP500 which becomes official on Dec 20th.  Studies have shown that the companies that get kicked out start to outperform the stocks that were included in a major index the day that it becomes official.

I consider this a mean reversion play that can probably work over the next 2-5 days if it is able to break its most recent pattern; 11 down days, and lower highs.  Today’s hammer candle is a start, and all bets are off if it breaks $31.14.


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