Urban Outfitters Is Starting to Rebound

Since early January, shares of Urban Outfitters (URBN) have been building a solid base just above $25. Despite an aggressive selling wave over the previous five sessions, URBN managed to hold this key area again this week. Today the stock is rebounding nicely and is a top 10 gainer in the S&P 500 with a 2.8% gain. For patient URBN bulls, this action should be very encouraging. 

URBN mounted a powerful post-election rally. By Nov. 14, the stock had surged over 27% in just four sessions. Shares held near the November highs as earnings approached, but an ugly report on Nov. 22 prompted a massive breakdown. The stock fell over 12% the next day, ushering in a steep bear market. By early January, URBN was down over 35% from its November peak....152 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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