Opening Bell Trading Targets: Target, Abercrombie & Fitch, J.C. Penney
Target (NYSE:TGT) is one of the winners in the retail earnings game. Revenues rose a solid 5.8% to $16.87 billion from the year-earlier quarter.
Investing Insights: Morning Buzzers: JC Penney Down 12%, Deere Fades, Target Up.
Today’s battle will be about the 10 day moving average at $55.75. Bulls will work hard to establish support here for a larger attack to retake the 50 DMA.
Abercrombie & Fitch (NYSE:ANF) offers the other side of the earnings coin: LOSER. The stock is down over 12% after missing Wall Street expectations.
ANF has an insanely ugly 1-year chart. Today’s crash leaves traders working with the 52-week low mark at $40.25.
J.C. Penney (NYSE:JCP) had a mini-crash after earnings missed expectations priced to perfection. The company has been making a ton of big changes in the C-Suite, and Wall Street wants results immediately. Get Your Cheat Sheet to JCP Earnings >>
The long term is not important now. Traders are circling like sharks with blood in the water. Keep an eye on the battle for the November 25th closing price of $29.61. This entire area will lead to some whacky trading.