Credit: With holiday shopping in full swing and Black Friday upon us, your stocks to watch this week are five names looking to buck the gloomy retail trend: Nike ( NKE ), Ross Stores ( ROST ), Gap ( GPS ), Shoe Carnival ( SCVL ) and American Eagle Outfitters ( AEO ).
Nike
Nike on Friday broke out of a cup-with-handle base with a 57.35 buy point, climbing 3.4%, after hiking its dividend late Thursday. The move also comes as sporting goods retailers Foot Locker (FL) and Hibbett Sports (HIBB) reported smaller-than-feared earnings declines . But as Nike's fundamental story has come into question over the last few quarters, the stock action has been choppy.
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Ross Stores
Ross Stores has blasted out of a nearly yearlong consolidation on its quarterly earnings report, with shares up 10% to hit a new all-time high in heavy volume Friday. The stock remains within the 5% buy range.
Gap
Gap is looking to clear a 29.87 buy point from a long cup-with-handle base . Shares climbed above that level intraday Friday, but pared their gains as 30 is proving to be somewhat of a resistance level.
IBD'S TAKE:Top stocks typically come from the top quartile of IBD's 197 industry groups. Right now, the Retail-Apparel/Shoes/Accessories group is ranked No. 85. To see how stocks in your portfolio stack up, make sure to check out the IBD Stock Checkup feature.
Shoe Carnival
Shoe Carnival surged 30% Friday, blowing past a 23.85 entry. Shares are already well extended from the buy zone. Although this is a strong move in heavy volume, the 200-day line remains above the 50-day average , signaling weaker performance in recent history.
American Eagle
American Eagle is flying high, up 7% Friday, as peer Abercrombie & Fitch 's (ANF) earnings report impressed. American Eagle's gain puts the stock past a 14.59 entry. The 50-day line recently retook the 200-day line, meaning improving performance, but shares remain well below their 52-week high and all-time high, reached in 2007.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
