Turkey moveDo you know the inductivist turkey? He got hurt because he has over-ridden patterns. But this time is different.
0R32 trade ideas
ANF Short Idea - "Ambercombie & Fall"Strong downtrend since 2013 got broken
Idea is that longs are trapped and so I'm expecting a pullback
Stop at 22.75
Take profit at 20.78
ANF Entry - Significant Shifting at all time lowRecent events in the industry with sector support are spiking several stock in the retail fashion field, ANF is strategically placed in this time and buyers are showing their interest at all-time-low.
For me, there are enough signs to support the attempt to build a position in the stock.
*Already holding in the fashion sector at AEO which also spiked and moved nicely, linking the trade here.
Long IdeaAbercrombie & Fitch Co is a retailer that sells apparel including knit and woven shirts, and graphic t-shirts under Abercrombie & Fitch, Abercrombie kids, and Hollister brands. It operates online stores as well as direct-to-consumer operations. Price chart broken a year long base formation. This could push the stock up to 23 Zone.
Bullish EngulfingBullish engulfing candles indicate immense buying interest that swallows the range of the prior candlestick low and surpasses the candlestick highs. The buying action is frenzied as the candle usually closes at its highs with little to no upper wick. This in turn triggers more buyers who spill over into the next candle. If the next candle closes higher than the bullish engulfing pattern, the next leg of the uptrend usually forms. www.investopedia.com
9.4.17 | ANF | Rising WedgeANF
(Code-Name_Virtue) Minor/Secondary Trend Press Release
Price has completed a Big W chart pattern and is now forming a Rising Wedge chart pattern. There is $.49 of daily volatility left in the Wedge with many strong supply values that price will be trading in if it continues bullish on Tuesday. The consensus is that price is going to reverse bearish this week, it may continue bullish on Tuesday due to the shopping from the holiday weekend however selling the high of tomorrow is sensible speculation.
(Keymaker)
Entry: Sell the high of the intraday chart.
Target: Exit when you're comfortable.
Stop: Use a 1:3 risk reward ratio.
Please scroll down for more charts based on this analysis.
I JUST BOUGHT ANF!Fib retracement after initiation of new uptrend. Low risk entry. First target pierce of $12.
OUT 2ND HALF ANF POSITION!In the money stop out on 2nd half of position.
Entry: $10.95
1st half: $11.24
2nd half: $11.25
Profit: 2.7%!
OUT 1/2 POSITION ANF!Out 1/2 position ANF at $11.24. Holding 2nd 1/2 and watching this little bull flag forming.
OPENING: ANF "MONIED" COVERED CALLHere, I'm going covered call because ANF has a small divvy that I want to attempt to grab (.20/$20 per 100 shares), so I need to own the shares to do that. The record date is 3/3, so I will need to hold the shares until at least then. I'm going monied because I just don't trust this thing not to implode somewhat post earnings ... .
Metrics:
Probability of Profit: 73%
Max Profit: $52/contract (+$20 dividend)
Max Loss: $948/contract (assuming the stock goes to $0)
Break Even: 9.48
Notes: Naturally, I'm hoping that the 10 short call stays ITM post-earnings. If it doesn't, I'll be rolling that out to reduce cost basis in my shares. I'll otherwise look to take the trade off as a package for $10 after the date of record, since that's cheaper than being called away (for which there is an onerous fee).
possible bounce back for ANF only because it is over sold..
(i already shorted this 2 days ago and covered Today)
after the last 2 days of free falling
, today we'll see a little bounce back up a little then drop back down a couple percent.
EARNINGS PLAY: ANF NOV 25TH 14.5 SHORT PUTPutting this on a touch early ... . High implied volatility rank/high implied volatility in advance of earnings. I'm looking for a volatility crush after earnings announcement and, of course, bullish or sideways movement ... .
Metrics:
Probability of Profit: 74%
Max Profit: $48/contract
Max Loss/Buying Power Effect: $1402 (assuming the stock goes to 0, and you do nothing); buying power effect is broker dependent)
Break Even: 14.02
Notes: I'll watch this closely. If I get bullish movement plus an ensuing volatility collapse, I'll look to take it off near worthless. Alternatively, if it breaks the short put, I'll roll it out for additional credit, as I'm not particularly interested in owning the stock.
