Here’s A Quick Technical Analysis Of American Eagle Outfitters, Inc. (NYSE:AEO)

American Eagle Outfitters, Inc. (NYSE:AEO) fell by -0.84% in Thursday’s trading session from $13.14 to $13.03 and has now fallen 3 consecutive sessions. The price has fallen in 6 of the last 10 days and is down by -8.3% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -1.25 million shares and in total 4.84 M shares exchanged hands for about $63.08 million.

Inside AEO’s Recent Trend

American Eagle Outfitters, Inc. (AEO) lies in the middle of a wide and strong rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 22.37% over the course of a quarter and, with 90% chance the price will be floating in the range of $14.93 and $18.27 in this timeframe.

American Eagle Outfitters, Inc. Technical Signals

AEO has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $13.46 and $13.25. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Tuesday October 10, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

American Eagle Outfitters, Inc. (NYSE:AEO) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $12.20 and $12.08. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $13.14, $13.39 and $13.85.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, American Eagle Outfitters Inc approaches the first support point just current price at $12.20. In case of a break, the next support we will see from accumulated volume is going to be at $12.08 and $11.21. Accumulated volume is going to prevent the price from rising further at $13.14 and this action will lead the price to take a temporary pause or stay muted for a few days.

American Eagle Outfitters, Inc. (AEO) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.42 (3.30%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 3.24%.

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