Technical Setup: ABERCROMBIE & FITCH CO-CL A Appears Poised for a Breakout.

ABERCROMBIE & FITCH CO-CL A (NYSE:ANF) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:ANF.

Deciphering the Technical Picture of NYSE:ANF

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

We assign a technical rating of 10 out of 10 to ANF. Both in the recent history as in the last year, ANF has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, ANF did better than 99% of all other stocks. We also observe that the gains produced by ANF over the past year are nicely spread over this period.
• ANF is one of the better performing stocks in the Specialty Retail industry, it outperforms 100% of 131 stocks in the same industry.
• ANF is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so ANF slightly outperforms the market at the moment.
• In the last month ANF has a been trading in the 53.16 - 64.85 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of ANF for a complete technical analysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:ANF has a 8 as its setup rating, indicating its current consolidation status.

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 58.71, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:ANF

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NYSE:ANF and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.