(Finance) – Definitely positive session for Abercrombie & Fitchwhich is trading up by 18.20%.
The quarterly report announced by the company contributes to assisting the shares. Abercrombie & Fitch recorded the best first quarter in its history, reporting earnings per share of $2.14 against expectations for $1.74. Revenues of 1.02 billion were also higher than expectations compared to the 963.3 million estimated by consensus.
The analysis of the stock performed on a weekly basis highlights the bullish trendline of the American Youth Clothing Society more pronounced than the trend ofS&P-500. This expresses the market’s greater attractiveness towards the stock.
The short-term implications of Abercrombie & Fitch they underline the evolution of the positive phase at the test of the USD 188.7 resistance area. A descent to the bottom 163.6 is possible. A strengthening of the curve is expected upon testing new targets of 213.8.