Abercrombie & Fitch Wave Analysis – 06 April, 2020
April 06, 2020 @ 17:48 +03:00
- Abercrombie & Fitch reversed from support area
- Likely to rise to 10.00
Abercrombie & Fitch recently reversed up from the support area located between the key support level 7.43 (which stopped the previous impulse wave (1)) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the earlier downward impulse sequence (3).
Given the clear bullish divergence on the daily RSI – Abercrombie & Fitch is likely to rise further toward the next round resistance level 10.00 (former strong support from the start of March).