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AEO: Poised for A Good Holiday Season?


American Eagle Outfitters, Inc. (AEO) has set up a year-long base-like pattern, which fits inside of a potentially much larger three-year double bottom represented by the Sept 2011 and May 2014 lows near 10.00.

The next key-resistance area is around 14.50, which is the price-axis coordinate of the down trendline from the Sept 19, 2012, high at 23.94.

Thereafter, a climb above 15.15 should trigger upside continuation to 17.00.

At this juncture, only a sudden and sharp decline that breaks below 12.50 will invalidate the promising bullish technical set-up.

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