Carter’s, Inc. and its subsidiaries design, source, and market
branded children’s wear under the Carter’s, Child of Mine, Just One You,
Precious Firsts, OshKosh, and other brands. The company operates
through five segments: Carter’s Wholesale, Carter’s Retail, OshKosh
Retail, OshKosh Wholesale, and International.
Take a look at the 1-year chart of Carter (NYSE: CRI) with the added notations:
CRI has created a simple chart pattern known as a symmetrical
triangle. Combining a down trending resistance (blue) with an up
trending support (red) forms the triangle pattern. As the support and
resistance converge on each other the pattern is created. Since there is
no way to know which way the stock will break, most traders will wait
for the breakout, or breakdown, before entering a trade.
The Tale of the Tape: CRI has formed a simple
symmetrical triangle. A trader could enter a long position on a break
above the down trending resistance (near $86) with a stop set under the
entry level. However, if CRI were to break below the trend line support
(currently at $83), a short trade could be entered with a stop above the
trend line.
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