Urban Outfitters, Inc., a lifestyle specialty retail company, is
engaged in the retail and wholesale of general consumer products. The
company operates in two segments, Retail and Wholesale. It serves its
customers directly through retail stores, Websites, mobile applications,
catalogs, and customer contact centers. The company operates retail
stores under the Urban Outfitters, Anthropologie, Free People, Terrain,
and Bhldn brands. The Urban Outfitters stores offer women’s and men’s
fashion apparel, footwear, beauty, accessories, and sporting apparel and
gear, as well as an eclectic mix of apartment wares and gifts to young
adults aged 18 to 28; and the Anthropologie stores product assortment
includes women’s casual apparel and accessories, shoes, home
furnishings, and various gifts and decorative items to women aged 28 to
45.
Please take a look at the 1-year chart of URBN (Urban Outfitters, Inc.) below with my added notations:
For the most part, URBN hasn’t taken part in the market’s rally of
the last year. Instead, while trading sideways, the stock had held an
important level of support at $35 (blue) for the last several months.
Back in May the stock finally broke that support and fell to almost $32.
The recovery over the last couple of weeks should be just a bounce
before ultimately heading lower.
The Tale of the Tape: URBN had a key level of support at $35. Now
that the stock has broken support, a trader might want to enter a short
trade at or near the $35 level with a stop placed above that level. A
break back above $35 could negate the forecast for a move lower.
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