V.F. Corp. (NYSE: VFC) – This global apparel company based in the United States designs and manufactures, or sources from independent contractors, a variety of apparel and footwear for all ages. It is transforming the denim and daypack area with lifestyle apparel brands, according to Standard & Poor’s. And its Vans and North Face brands are viewed as growth drivers, along with new store growth in Asia.
The Trade of the Day recommended VFC several times in this year, most recently on May 17, at about $100. But the performance of the retail sector appears to be having a negative impact on almost all companies in the group.
VFC broke from a compound head-and-shoulders top as it plunged through $98. Then, yesterday, the stock closed under $93. The downside target for VFC is $83, so positions should be closed and any rebound should be used as a selling opportunity.