V.F. Corp. (NYSE:VFC) — This global apparel company designs and manufactures a variety of apparel and footwear for all ages. It is transforming the denim and daypack area with lifestyle apparel brands, according to Standard & Poor’s. Along with new store growth in Asia, its Vans and North Face brands are viewed as growth drivers.
On Oct. 7, with the stock at $129, the Trade of the Day said, “Technically VFC is in a powerful bull channel. Note the recent stochastic buy. The target for VFC is $145.”
Since then, VFC reported strong Q3 earnings, its eighth consecutive earnings surprise, and management raised its guidance for the year.
Note that the stochastic is turning up and that two buy signals from our proprietary indicator, the Collins-Bollinger Reversal (CBR), were recently triggered. The technical trading target is raised to $150.
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