News Image

NYSE:ANF may be ready to breakout.

By Mill Chart

Last update: Oct 27, 2023

Our stock screener has detected a potential breakout setup on ABERCROMBIE & FITCH CO-CL A (NYSE:ANF). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:ANF.

ANF Daily chart on 2023-10-27

What is the technical picture of NYSE:ANF telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall ANF gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ANF is showing a nice and steady performance.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • Looking at the yearly performance, ANF did better than 99% of all other stocks. On top of that, ANF also shows a nice and consistent pattern of rising prices.
  • ANF is part of the Specialty Retail industry. There are 133 other stocks in this industry. ANF outperforms 100% of them.
  • ANF is currently trading near its 52 week high. This is a good sign, certainly because the S&P500 Index is not trading near new highs.
  • ANF is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Our latest full technical report of ANF contains the most current technical analsysis.

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:ANF exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

ANF has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 59.84, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ANF in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:ANF be traded?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

Back

ABERCROMBIE & FITCH CO-CL A

NYSE:ANF (5/21/2024, 7:10:07 PM)

After market: 145.44 +1 (+0.69%)

144.44

-0.4 (-0.28%)

ANF News

News Image13 hours ago - Investor's Business DailyUrban Outfitters, Gen Z Retail Peers Fashion Buy Points With Earnings Due

Urban Outfitters kicks off youth apparel chains Tuesday night, with an earnings slowdown seen.

News Image5 days ago - Market News VideoNoteworthy Thursday Option Activity: CBRL, CNA, ANF
News Image6 days ago - Market News VideoAbercrombie & Fitch Larger Than S&P 500 Component Norwegian Cruise Line Holdings
News Image13 days ago - Market News VideoInteresting ANF Put And Call Options For June 28th
News Image18 days ago - Investor's Business DailyNvidia Leads Five Stocks Near Buy Points As Market Rally Picks Up Steam

The market rally appears to be picking up steam.

News Image18 days ago - Investor's Business DailyA Week Of Fast-Moving Stocks Ahead: Disney, Toyota, Ferrari, Constellation

Earnings season moves into final innings, some fast-moving names led by Disney, Ferrari and Constellation report.

News Image19 days ago - Abercrombie & Fitch Management Co.Abercrombie & Fitch Co. to Report First Quarter 2024 Results on May 29, 2024
News Image19 days ago - Abercrombie & Fitch Management Co.Abercrombie & Fitch Co. to Report First Quarter 2024 Results on May 29, 2024

NEW ALBANY, Ohio, May 03, 2024 (GLOBE NEWSWIRE) -- Abercrombie & Fitch Co. (NYSE: ANF) will host its quarterly earnings conference call for all...

News Image19 days ago - InvezzAbercrombie & Fitch stock is up 1,600% but a risky pattern is forming

Abercrombie & Fitch (NYSE: ANF) has become one of the best-performing retailers in Wall Street. It has already surged by over 40% this year, beating the S&P 500 and Nasdaq 100 indices that are up by less than 7%. Altogether, it has soared by over 1,600% from its lowest level in 2022, giving it a […]

News Image25 days ago - Market News VideoNoteworthy Friday Option Activity: BYD, AON, ANF
News Image26 days ago - Market News VideoJune 7th Options Now Available For Abercrombie & Fitch Co (ANF)
News Imagea month ago - Investor's Business DailyUrban Outfitters Stock Back In Style After Bounce Off 50-Day Line?

Among its other ratings, Philadelphia-based Urban Outfitters boasts a best-possible 99 Earnings Per Share Rating.

ANF Links
Follow us for more