VF Corp is a large cap stock with a wide brand portfolio. It wouldn't be a stretch to imagine at least one of their brands are in every household in North America. With this vast product portfolio and a hot jobs market with high employment, consumers could be stepping up to buy products. This could be a great time to get onboard with back to school, Thanksgiving and the run up to the holiday season.
The chart suggests lots of investors getting onboard as the stock breaks out to fresh highs after consolidating. The SCTR has moved up above 90. The Full stochastic shows the price continues to trade in the top of the range. The break out with volume is beautiful and there is another day to be added to the weekly volume bar. I particularly like the fact the stock just broke the green line on the PPO suggesting the momentum is picking again. If I had to worry about anything on the chart, it would be the P/E ratio at 50. I never use the P/E ratio but my friend Bob, loves that number! I always find the strong stocks have a P/E number I don't like. Lastly, the stock is in one of the best sectors currently.
A stop somewhere around the breakout level ($82) should keep you in the stock.
Below is the Commodities Countdown video that walks through the decimation going on in a lot of the commodities right now.
The Final Bar recording for Thursday July 19th contains information on the fresh breakout in the $USD. I cover off bonds as well. All of these markets are at very critical technical locations. If the USD is going to soar and create a bunch of trend changes on the other charts, you'll want to see the setups in advance. That is what the video covers off.
This week's Canadian Technician video discusses a lot of the sectors and specifically reviews the technology sector stocks.
If you are missing intermarket signals in the market, follow me on Twitter and check out my Vimeo Channel often. Bookmark it for easy access!
Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts for Dummies
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Want to read more from Greg? Be sure to follow his two StockCharts blogs:
Commodities Countdown and The Canadian Technician
