7 Stock Charts We're Watching: Retailers, Coal, GrubHub, and More

Several retailers are among the stocks with notable chart patterns we're watching

by Tony Venosa, CMT

Published on Nov 21, 2016 at 3:52 PM

Below are seven stocks whose charts are on Schaeffer's radar this week. Among the names of interest are several retailers, representing a sector that's been in focus of late. Specifically, retail stocks have been highlighting the earnings calendar over the past couple of weeks, and numerous sector components are among the stocks that could see upside this holiday week

Apparel retailer American Eagle Outfitters (NYSE:AEO) is preparing to report third-quarter earnings next Wednesday. The stock last week broke out of a bullish flag pattern, after testing support in the $16-$16.50 region -- which caused trouble for the shares in April through July of this year. AEO has added nearly 17% year-to-date, at $18.08.

AEO Daily Chart 3 Nov 21

Chart courtesy of StockCharts.com

Foot Locker, Inc. (NYSE:FL) faltered Friday morning after the company's quarterly earnings report, but managed to close back in positive territory, thanks in part to a couple of upbeat brokerage notes -- of which FL has seen more today. The stock has been on a strong uptrend for months, adding 44% from its late-June low to trade at $73.26, and earlier hit an annual high of $73.58. 

FL Daily Chart Nov 21

Chart courtesy of StockCharts.com

Luxury retailer Michael Kors Holdings Ltd (NYSE:KORS) has been forming a coil pattern over the past several months. The shares dipped after a disappointing earnings showing earlier this month, but the losses were contained by familiar support in the $46-$47 region. At $48.11, KORS is sitting on a 20% year-to-date lead.

KORS Daily Chart Nov 21

Chart courtesy of StockCharts.com

Food delivery service GrubHub Inc (NYSE:GRUB) landed in hot water post-election after the company's CEO sent out a controversial email. The stock was already well into the formation of a bullish falling wedge, which GRUB appears to be breaking out of now, as the shares are above the trendline connecting their lower highs, at $37.81. Longer term, the shares have put in a strong performance, adding more than 56% on the charts in 2016.

GRUB Daily Chart Nov 21

Chart courtesy of StockCharts.com

Video game maker Electronic Arts Inc. (NASDAQ:EA) has spent most of the year trekking higher in a rising channel pattern, but the shares changed course after topping out at a record high of $86.07 in early October. A post-earnings rally earlier this month was short lived, as EA continues in a down-trending channel, paring its year-to-date gains to 13.8%, at $78.19.

EA Daily Chart Nov 21

Chart courtesy of StockCharts.com

Real estate specialist Zillow Group, Inc. (NASDAQ:ZG) formed a double bottom in October, and has spent this month consolidating above support at the 40-day moving average. The shares also appear to have found an ally in the $34 level, which kept downward moves in check throughout August. At $35.31, ZG has more than doubled from its February lows, and an unwinding of lingering pessimism could send it back to annual-high territory, near the round $40 mark.

ZG Daily Chart Nov 21

Chart courtesy of StockCharts.com

CONSOL Energy Inc. (NYSE:CNX), a leading coal stock, is trying to break to the upside after a recent bounce off support at the $16 level. The stock hit an annual high north of $20 last month, and has added a whopping 141% this year, at $19.02.

CNX Daily Chart Nov 21

Chart courtesy of StockCharts.com


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