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The Eagle Dives

Published 09/03/2021, 01:00 AM
Updated 07/09/2023, 06:31 AM

I’ve mentioned American Eagle Outfitters (NYSE:AEO) as a short in recent weeks, as it was inching its way toward completing its rounded top. Well, today it finally did so with gusto.

American Eagle Outfitters (AEO) Price Chart

This is all part of a multi-decade channel, as we begin to unwind the lunatic post-Covid ascent that the stock had enjoyed.

American Eagle Outfitters (AEO) Price Chart

Latest comments

If you follow the financials for AEO you wont find lunacy for its value. Its pe ratio is sound and earnings excellent. The drop of 10% in one day was an overreaction to the qrterly report which was excellent but a little short of expectations. I took advantage of the opportunity to buy. We’ll see. Lunacy is more likely to be found in the tech stock runup. IMO.
I also bought 8k shares
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