Charming Shoppes Bearish Signs

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Charming Shoppes Bearish Signs

Published on Wednesday, 04 January 2012 08:54 Written by Danny Miller

chrs New York, January 4th (TradersHuddle.com) - Shares of Charming Shoppes, Inc. (NASDAQ:CHRS) ended the trading session lower by $0.08 or -1.63% from its previous close. Charming Shoppes' price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Charming Shoppes, Inc. (NASDAQ:CHRS) is a multi-brand specialty apparel retailer primarily focused on plus-size women's apparel. The company retails using three distinct store brands - Lane Bryant, Fashion Bug and Catherines Plus Sizes.

Charming Shoppes' current stock range is defined by calculated support defined at $4.57 and by the resistance level at $5.06, which should be used by traders planning their trades.

Traders wanting to establish a position in Charming Shoppes stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Charming Shoppes shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

Charming Shoppes Reaches New 52-Week High (CHRS) - TheStreet.com
Benzinga's M&A Chatter for Wednesday May 2, 2012 - Benzinga
Charming Shoppes Rises On Unusually High Volume (CHRS) - TheStreet.com
Financial Breakfast: Morning News Summary for May 2, 2012 - Benzinga
UPDATE: Ascena Retail Group Reaches Agreement to Acquire Charming Shoppes for $7.35/Share or $890M - Benzinga
Ascena Retail Group Reaches Agreement to Acquire Charming Shoppes for $890M or $7.35/Share - Benzinga
Charming Shoppes Reaches New 52-Week High (CHRS) - TheStreet.com
Insiders Trading ET, CPWM, CHRS and RNR - TheStreet.com
Charming Shoppes Stock Hits New 52-Week High (CHRS) - TheStreet.com
Charming Shoppes Stock Hits New 52-Week High (CHRS) - TheStreet.com

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