Stock to Sell #1 – Abercrombie & Fitch (ANF)
Casual apparel retailer Abercrombie & Fitch (NYSE:ANF) has been downgraded by analysts following a decline in profit margins. The company has lost over 30% of its sales productivity since a peak in 2007.
The stock is in a bear market with tops that track its 200-day moving average and its bearish resistance line. In late July, the stock broke to a new low on a continuation gap with high volume. Sell ANF at the market.