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The Technical Take: Abercrombie & Fitch Under Selling Pressure After Q3 Miss

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Abercrombie & Fitch Co. (NYSE: ANF) shares are trading lower by $2.25 (13 percnet) at $14.68 in Friday's session. The catalyst for the sharp decline is a Q3 EPS miss long with a revenue shortfall of $8 million. On top of that, sales comps were down 6 percent.

After a sharply lower open, it rallied only $0.25 to $15.30, before continuing its downward descent. So far, the ensuing decline has reached $14.65 and the issue has been unable to distance itself from that low.

If the decline continues, there may not be not any major support until its November 9 low ($14.00).

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