FOOT LOCKER INC (NYSE:FL) - A Strong Technical Setup With Breakout Potential

FOOT LOCKER INC (NYSE:FL) has been identified as a strong technical breakout candidate by our screening process. The stock shows both high technical strength and a well-defined setup pattern, suggesting potential for upward movement. Below, we examine why FL stands out for traders focused on technical setups.

Technical Strength

FL earns a high Technical Rating of 9, reflecting its strong momentum and trend health. Key factors supporting this score include:

• Positive trends in both short and long timeframes, indicating sustained upward movement.
• Outperformance within its industry, beating 87% of Specialty Retail stocks.
• Trading near the top of its recent range (between $23.84 and $25.34), signaling bullish momentum.
• Healthy liquidity, with an average daily volume of over 6.1 million shares.

The stock has also demonstrated resilience, holding above key moving averages, including the 20-day, 50-day, and 100-day SMAs, which are all trending upward.

Setup Quality

FL’s Setup Rating of 9 highlights a well-formed consolidation pattern, often a precursor to a breakout. Key observations include:

• Tight price action in recent weeks, reducing volatility and forming a clear base.
• Support near $25.03, providing a logical stop-loss level for traders.
• Resistance just above at $25.18, with a breakout above this level potentially triggering further upside.
• A recent Pocket Pivot signal, indicating accumulation by buyers.

The setup suggests an entry point at $25.33 (above resistance) with a stop-loss at $24.68, limiting downside risk to 2.57%.

For a deeper look at the technicals, 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. Always conduct your own analysis and consider risk management before trading.