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ANF Retracing

Posted by StockBuz on December 9, 2011 at 7:07pm
ANF was taken to the woodshed not once, but twice over recent months. Initially due to reporting weaker-than-expected sales from their flagship store, and then secondly with and EPS miss on their 3Q earnings report. It found responsive buyers at the 200wk SMA but is already becoming overbought ont the daily so you could get long a small size here and add between $48-47 or when oversold [daily]. I believe it will fail initally at the gap but then eventually fill it; very possibility fill the longer term gap the 2nd as well. Stop below the November low.

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