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5 Retail Trades for Black Friday

Abercrombie & Fitch

It's been a tough year for apparel retailer Abercrombie & Fitch (ANF - Get Report) -- shares of the mid-cap clothing stock have slid 10% year-to-date, underperforming the broad market by a considerable margin. But investors look due for a reprieve.

ANF has spent most of the second half of the year consolidating sideways in a channel, bouncing around between resistance at $40 and support down at $30. But that changed last week with Abercrombie's third quarter earnings call -- the firm announced solid numbers that spiked shares by almost 34% overnight. More importantly, it broke ANF out of the channel that had been hamstringing shares in that range. With resistance at $40 long gone, this stock has more room to run higher.

ANF's next meaningful resistance level comes in at $53, giving this stock considerable upside before hitting a pocket of previously known supply of shares. If you decide to bet on more upside in ANF, I'd recommend keeping a tight stop just below $40 -- there's still a lot of volatility in this name.
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ANF $23.51 -4.50%
HD $112.37 0.46%
M $39.21 -1.10%
TGT $69.09 -1.30%
LTD $0.00 0.00%


Chart of I:DJI
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S&P 500 1,838.99 -14.45 -0.78%
NASDAQ 4,237.7690 -45.9840 -1.07%

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