Been meaning to post this a couple days ago but haven't had the time. Today's analysis is of LTD, the owner of Victoria's Secrets and Bath & Body Works, a retail play.
LTD has been performing surprisingly strong over the last several months, especially compared to the S&P where it has reached 52 week highs while the S&P stays stuck in the doldrums. Recently, the stock has reached what may be a local bottom, supported by the upward trend line at ~$38.5. It stayed there for a few days and strongly broke upwards today, even though overall retail sales report was negative.
There are some close upcoming resistance points at ~$42 and $43 but regardless, there is a decent opportunity for a small short term bounce. Look to be cautious as it approaches $42-43. The other risk is the unpredictable macro impact from Europe which continuously influences the stock market, regardless of current trends.