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.
You can reach me at FZorrilla@zorcapital.com