BREAKOUT CONFIRMED breakout above 49.16, no resistance in area just above.
Type: True breakout from double resistance.
Target: 53.76, 8.5% Stop: 48.08, Loss: 2.9%, Profit/Loss ratio: 2.9 : 1 - Good
CURRENT PRICE 49.53, just above resistance, 48.21 ± 0.92, type double, strength 7
RESISTANCE ABOVE None.
SUPPORT BELOW -2.7% at 48.21 ± 0.92, type double, strength 7
-7.8% at 45.69 ± 0.87, type double, strength 4
-10.5% at 44.31 ± 0.84, type single, strength 5
-16.2% at 41.52 ± 0.79, type single, strength 8
Only PART right. You posted what looks like you want your position to go through. The rest of the Stock Consultant states 7.6 Excellent for an EXTREME Pull Back. Upside Trading Risk is Poor with a 30% chance of up Higher while Dowside Trading Risk shows (today 1/15/12) a FAIR rating with a 65% chance of Downside. You need to report ALL the information so people can see that you posts are fair and balanced otherwise risk a credibility issue!
I am not sure if credibility is a concern of mine since this is a stock board, and I am providing my opinion. It is not as if I am a paid anlayst telling people to buy so that I can better my position and profits. I think the PE is to high. I think breakouts and resistant points are not technical indicatiors, they are just targets hedge fund traders set up to make investors react when the manipulate the stock right on their projections, moving averages and resistance points. Stocks are about growth and earnings and in two months the value of this company has gone up 1.6 billion dollars while they close stores and deal with declining sales by reducing sales and income projections so they can announce that they beat projections (LOWERED). Nov 13 stock price $31.06 Two montsh later $50.00. A t shirt company cloisng shores goes up almost 2 billion dollars in lest than two months and the hedge funds want the market to think ANF has furthur to go while they ignore a PE of almost 40. Technical indicators are just manipulative numbers for hedge funds to twist. Reality: Two billion in two months is just stupid. They are closing stores and losing market share to American Eagle and Urban outfitters. a 1/2 percent increase in retail sales in the biggest sales month of the year does not warrant a 43% increase in stock price from 31 to 50.
Hedge fund control dictates where the stock prices goes. Earnings will support what ever hedge finds decide to do with price of stock. If earnings are going down they just reduce projections so the company can beat projections. If it was about true earnings this stock would be selling off becasue of store closing and outrageous PE ratio. Instead the stock continues to go up on no news and just the manipultion by hedge funds.