Aeropostale--$28.64; +1.35; optionable): Teen retail apparel stores
After Hours: $28.73EARNINGS: 05/20/2010
STATUS: ARO surged in March off a three month flat consolidation, rallying through late April. It has tested back with the market through Friday, testing the 200 day SMA on the May 6 flash crash, also holding at the 50% Fibonacci retracement on the close. It has tested that level again the past week, forming a double bottom at that point. Friday it had some purpose to it as it jumped nicely on strong volume, the second session of solid, above average volume. Retail remains stronger despite succumbing to the correction itself. Nice action here, however, and looking to move in as ARO continues to the upside.
Volume: 5.048M Avg Volume: 2.78M
BUY POINT: $28.88 Volume=3M Target=$33.44 Stop=$26.86
POSITION: ARO 10J28.00 - Oct. $28c (54 delta) &/or Stock
BUY POINT: $28.88 Volume=3M Target=$33.44 Stop=$26.86
POSITION: ARO 10J28.00 - Oct. $28c (54 delta) &/or Stock
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