The USD 31.6 support, currently tested, should allow Foot Locker to rally again.

According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.

Currently the stock is oversold and, in the mid-term, it is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 31.6 area. Foot Locker should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 33.3 and by extension towards USD 37.3.

The strategy will be to buy the stock at the current price with an objective next to the USD 33.3 resistance and a stop loss near USD 31.2, below the mid term support.