FOOT LOCKER INC (NYSE:FL) - A Strong Technical Setup for Breakout Traders

FOOT LOCKER INC (NYSE:FL) has been identified as a potential breakout candidate by our technical screening tools. The stock shows both strong technical health and a favorable setup pattern, making it worth a closer look for traders focused on momentum and consolidation breakouts.

Technical Strength

• Rating of 8/10: FL earns a high technical score, reflecting positive trends in both short and medium-term timeframes.
• Trend Confirmation: The stock is in an uptrend, with rising 20-day, 50-day, and 100-day moving averages.
• Relative Strength: FL outperforms 73% of stocks in the Specialty Retail industry and 76% of all stocks in the market over the past year.
• Bull Flag Pattern: The recent pullback after a strong upward move suggests a potential continuation of the uptrend.

Setup Quality

• Consolidation Pattern: FL has been trading in a tight range, reducing volatility and forming a clear support zone near $24.00.
• Resistance Breakout Level: A move above $24.13 could signal a breakout, with resistance just above at $24.07-$24.12.
• Pocket Pivot Signal: Recent price action shows accumulation, indicating institutional interest.
• Stop-Loss Opportunity: A clear support level at $23.70 provides a logical exit point if the breakout fails.

For a deeper technical breakdown, review the full technical report for FL.

Our Technical Breakout Setups screener updates daily with new potential breakout candidates.

Disclaimer

This is not investment advice. The observations here are based on technical analysis at the time of writing. Always conduct your own research before making trading decisions.