Urban Outfitters (URBN) is showing signs of life with a move toward the upper trendline of a triangle consolidation. The stock is currently up three of the last five days, but volume is light. A breakout on surging volume would be bullish. Failure and a break below support at 27 would be bearish.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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