Today’s chart scan includes two niche sports apparel brands, Under Armour (NYSE: UA) and Lululemon Athletica (NASDAQ: LULU). Each retailer exhibits key channel support trendlines. In the case of LULU, the lower support channel trendline was touched. Watch in coming days as these stocks test their channel support lines amidst weak retail sales.
Today’s stock chart scan examines Northgate Minerals (NXG) and Abercrombie & Fitch (ANF). Northgate exhibits a large symmetrical triangle pattern nearing its apex. With favorable precious metals prices and higher margins NXG could be set for a move higher. Abercrombie shows a classic head and shoulders formation with a neckline of $30.00. With consumers strapped for credit and retail sales weak, keep an eye on ANF heading into the end of 2010.