Foot Locker Races To New All Time High And Retreats In Wild Session

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
'' Foot Locker
FL
shares are trading lower by $0.50 at $63.50 in Friday's session. Earlier today the company reported a Q1 beat for EPS ($1.29 vs. Est. $1.23) as well as for revenue ($1.916B vs. Est. $1.91B). The report has instigated some wild price action in the issue. After a higher open ($65.06 compared with Thursday's close of $64, it quickly rallied to a new all time high at $65.80 before reversing course. Within minutes it spiked down through Thursday's low ($63.01), reaching $62.60 before rebounding all the way to $65.35 before turning lower once again. At this time it is attempting to stabilize at the $63 and mount another rally.
Posted In: TechnicalsIntraday UpdateMoversTrading IdeasPre-market outlook
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