Elizabeth Arden, Inc. (NASDAQ:RDEN) is taking a beating today after announcing weak quarterly results. The stock is down a whopping 24%. Many investors are wondering where it will find support. The level is $14.00. Please note the monthly chart below showing this major support level.

Gareth Soloway

Chief Market Strategist



TRADERS! Let’s Make Money, Trade These Stocks Today: RDEN, RAX, DTV, OKS, RDY

Join the Elite InTheMoneyStocks services and get all of the trades now; the Research Center, where swing traders & investors profit from the multiple day moves in the markets. View the Research…

A majority of earnings from retailers have been horrid this quarter. Whether it is Lululemon Athletica inc. (NASDAQ:LULU), Sears Holdings Corp (NASDAQ:SHLD) or Elizabeth Arden, Inc. (NASDAQ:RDEN), there has not been many bright spots. One stock that gave Wall Street a surprise was Abercrombie & Fitch Co. (NYSE:ANF). After reporting, the stock surged from $33.21 to a high of $38.15. As the markets have collapsed in 2014, ANF has dropped sharply. This gives us an opportunity to buy a retailer who is actually performing for a great price. This looks solid at its current price of $32.52, -0.64 (-1.93%).

Gareth Soloway