Foot Locker, Inc.Short
Short FL into Fibonacci resistance
This daily chart of FL shows a sharp move off the high followed by a retracement back into Fibonacci resistance. I am counting the rally as an ABC correction, nearing completion right at the 61.8% retracement level. Initiating a short position at 58.90 with a profit target below 40. A move above 70 invalidates the setup.
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