Abercrombie & Fitch: How To Trade With Crowd Indicator?
Abercrombie & Fitch Co. was expected to report its second-quarter earnings before the open of trading on Tuesday, August 30. We had published the question a few days before earnings report was released:
Abercrombie & Fitch Co. (ANF) will report its Q2 earnings on Tuesday, August 30 before the market opens. Shares of Abercrombie & Fitch closed at $22.62 on Friday, August 26. Will Abercrombie & Fitch stock open above $23 on Tuesday, August 30, after the report will be released?
Cindicator users thought that the probability for Abercrombie & Fitch to open above $23 was 62 percent. Therefore, we had bought 4400 shares of ANF at $22.88 before the market close on Monday, August 29.
Crowd indicator didn’t deliver on the expectations despite the efforts of our dedicated regular users as Abercrombie & Fitch reported poorer than expected earnings. ANF dropped in pre-market trading and we sold it at $20.02 average for $12,586 loss (-6.7%).
Although this particular trade turned out to be a loss, the statistic of 35 out of 48 accurately predicted outcomes over the past week is impressive.
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