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Actionable news in FL: FOOT LOCKER Inc,

Foot Locker Is About to Take Off


Foot Locker (FL - Get Report) has been running in place for the last six months in a narrowing price range, but it could be off to the races if it breaks above technical resistance.

The weekly chart shows the rally from the 2013 lows that took the stock up to its 2013 highs, booking a 150% gain and making a record high. It retraced 38% of that profit at the end of 2015 and began to consolidate under declining resistance and above horizontal support in the $58-to-$59 area, forming a large triangle pattern. Price has compressed even further over the last two months and may be nearing an inflection point.

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