Potential fall of FL to a new yearly low
Today’s instrument is the Foot Locker Inc. stock traded in NYSE exchange under the ticker FL.
Looking at the Foot Locker’s chart, we can see a deep drop of the share price due to the worst-than-expected quarterly earnings announced, from around $41.50 to around $30 whereas it managed to close at the last price of around $30.22.
Today, if it manages to keep it above the level of $30, then we could see an upward reaction towards the resistance level at around $32-32.50, otherwise it should reach a new low level for the current year.