American Eagle oversold, and the accelaration in the stock is not justified (in my opinion). They are on the pace of gaining market share from VS and continue to grow. I believe pace of sell off was just too steep. Based on recent high frequency economic data and Jerome Powell's comments, consumer spending is solid and US retail sales are good, I believe close to the next earnings report I am expecting a pick up in the stock price.There are signs of strong support at 16.60 and signs of weekly consolidation at 16.82. I believe price will be pushed up towards 17.15, 17.40, and 17.50 and breakout from there towards mid $18 levels.
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