VF Corp (NYSE: VFC) shares are trading lower by $0.50 at $54.17 in Monday's session. The issue is holding steady in the $54 handle after Q3 EPS beat of a nickel along with a slight beat for sales.
The company also raised its quarterly dividend by a nickel, but reduced guidance as investors are still skeptical on the issue.
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Off a flat open, it managed a brief spike to $55.70, but quickly surrendered those gains.
From a technical perspective, the bulls and bears have been battling it out in the $54 area for quite some time. Prior to today's spike high, the issue traded in a narrow range from $53.56 to $55.23 over the its previous nine sessions. It has closed in the $54 handle in each of those sessions between $54.14 and $54.73.