• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Abercrombie & Fi (NYSE:ANF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Abercrombie & Fi (NYSE:ANF) based on the price action in the company's shares. Today's price range of $27.85 and $28.05 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Abercrombie & Fi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Abercrombie & Fi (NYSE:ANF) defies analysts with a current price ($28.05) 19.1% above its average consensus price target of $22.69. The stock should discover initial support at its 50-day moving average (MA) of $24.34 and subsequent support at its 200-day MA of $22.10.

Abercrombie & Fitch Co. is a specialty retailer that operates stores and conducts direct-to-consumer operations. Through these channels, the Company sells: casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women, and kids.

In the past 52 weeks, shares of Abercrombie & Fi have traded between a low of $15.28 and a high of $29.69 and are now at $28.05, which is 84% above that low price. The 200-day and 50-day moving averages have moved 0.15% higher and 1.38% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Abercrombie & Fi and will alert subscribers who have ANF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle abercrombie & fi

Ticker(s): ANF