Two weeks ago I wrote that Urban Outfitters (URBN) looked like it was bottoming at $25 and change, given that it was oversold and yet was holding a heavy support level around $24.44-$24.45 per share. The next week, on January 4th, the stock closed at $24.48 and never went any lower.
Today we have a couple of positive analyst reports pushing the stock up more than $3, or 12 percent, to $28 and change. Traders can take their $3 and run, but I would not be surprised if we see $30 this month.
Serving Clients Nationwide
Based in Seattle, WA
(425) 296-0662
Your Custom Text Here