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Next Support Level for Abercrombie & Fitch (ANF) is $49.70

Published on Thu, 01/31/2013 - 13:39
By Robert Cotter

Abercrombie & Fitch (NYSE:ANF) has opened bearishly below the pivot of $50.48 today and has reached the first level of support at $50.13. Should the shares continue to fall, the support pivots of $49.70 and $48.92 will be of interest.

Over the past year, Abercrombie & Fitch has traded in a range of $28.64 to $54.10 and is now at $49.28, 72% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

Abercrombie & Fitch Co. is a specialty retailer that operates stores selling casual apparel, such as knit shirts, graphic t-shirts, jeans, woven shirts and personal care and other accessories for men, women and kids. The Company operates stores in the United States and Canada as well as retails its products over the Internet.

Abercrombie & Fitch has overhead space with shares priced $49.28, or 1.6% below the average consensus analyst price target of $50.09. Abercrombie & Fitch shares have support at the 50-day moving average (MA) of $47.17 and additional support at the 200-day MA of $38.98.

By Robert Cotter
rcotter@fnno.com

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