Retail has been showing signs of life lately. One of my favorite bullish chart setups is Ralph Lauren Corp (NYSE:RL). The stock took a nose dive from $84 to $66 in May. Over the last two weeks the stock popped up and has stayed near the highs and moved sideways. This pattern formation is known as a bull flag and is extremely bullish for another surge in the coming days. I am loving this chart setup and looking to buy some on the long side. The upside target for Ralph Lauren Corp is $77.50. This would be an over 10% profit once achieved.
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