V.F. CorporationLong
Rebound?
VF Corporation, the long-standing parent company of some top name retail brands such as North Face, VANS, and Wrangler, lost 10.8% of its stock value on Friday. That being said here is the analysis and my thoughts:
Analysis: As the chart shows, a strong inverse head and shoulders pattern began to take shape around 31 Jan, with a completion of its pattern on the right shoulder around 12 Feb. With a very moderate volume increase the stock was on track for a breakout, remained semi-neutral throughout, and never reached it's 5 point expected climb. It fell short by approximately 2 points (Based on candle analysis). This remained the case until it sharply declined on the open Friday pushing it well below support levels.
Thoughts: If the theory holds true about the effect of the tax code change this sudden shift just pushed the stock back 2 months to previous support levels. However, with its long-standing reputation, I'm optimistic about a return on this stock after its full year and four quarter reports from last year. (For further detail visit: vfc.com/news/press-releases/detail/1644/vf-reports-better-than-expected-fourth-quarter-and-full)
What Next: I myself will place this on my watchlist for the coming week. Overall I believe, for myself, it will turn out as a solid medium to long-term investment.
Disclaimer: This analysis is solely meant for educational purposes, not financial advice. All trade considerations based on this chart are the sole responsibility of the individual.
Analysis: As the chart shows, a strong inverse head and shoulders pattern began to take shape around 31 Jan, with a completion of its pattern on the right shoulder around 12 Feb. With a very moderate volume increase the stock was on track for a breakout, remained semi-neutral throughout, and never reached it's 5 point expected climb. It fell short by approximately 2 points (Based on candle analysis). This remained the case until it sharply declined on the open Friday pushing it well below support levels.
Thoughts: If the theory holds true about the effect of the tax code change this sudden shift just pushed the stock back 2 months to previous support levels. However, with its long-standing reputation, I'm optimistic about a return on this stock after its full year and four quarter reports from last year. (For further detail visit: vfc.com/news/press-releases/detail/1644/vf-reports-better-than-expected-fourth-quarter-and-full)
What Next: I myself will place this on my watchlist for the coming week. Overall I believe, for myself, it will turn out as a solid medium to long-term investment.
Disclaimer: This analysis is solely meant for educational purposes, not financial advice. All trade considerations based on this chart are the sole responsibility of the individual.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.