CONSIDER TAKING 69% MATASII GAINS IN ABERCROMBIE & FITCH
ANF CHART AS OF CLOSE 12-01-18
INITIAL ANF Abercrombie & Fitch IDEA: March 21st, 2017
Weekly time frame shows the market in a strong down trend. Recent movement on the daily has ANF consolidating in an expanding wedge pattern. Currently sitting near pattern support, there are potential opportunities if the pattern holds or if it breaks. IF the pattern holds we could see the market lift to pattern resistance or / and the bottom of the blue s/r zone. Note that there are several significant technicals above the market (solid orange highlight): these could offer resistance, and if broken, rigger considerations for a lift to the next technical. IF the current consolidation breaks down and support fails to hold, a few trend s/r's can be seen that could offer support on the way down, however we would also be looking towards the top of the blue s/r as the next potential lower target level.