Thursday, September 27, 2007

VFC Corp: This chart is setting up pretty well

Being an apparel maker, VFC probably isn't the first stock that comes to mind when thinking about going long. I have to say, however, that the chart is looking pretty good. Its long term trend is up (see weekly chart below) and it just finished a TD Sequential countdown. It had a sign of strength a few days ago and has sold off the gains, which tells me that there is a big seller still. I would wait until the TD Sequential is perfected, which would require an intraday low that is lower than 78.72 while simultaneously closing lower than the close two day previous. If we get that then it might be worth looking in too.

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