Shares of American Eagle Outfitters, Inc. (AEO) are breaking out today on heavy volume as the stock rebounds from the lower $12's. American Eagle Outfitters, Inc. has been killed over the past three months because the company has a ton of inventory to get through this fall.
American Eagle has formed a double top at $19.74 on the charts but I believe the stock can get back to $16-$17 over the next 6 months. American Eagle is still very trendy and I thing sales of Jeggings will heat up as well. Keep an eye on $13.54, when the stock breaks above this level, American Eagle should start a new uptrend.
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