VF Corp. (VFC) has lost ground this year, but the selloff doesn't appear over.
VFC has tested the $62 level several times in the last three months (see the chart above), but with each bounce failing at a lower high, it might just be a matter of time before VFC sinks to new lows for the move down. VFC peaked in August and fell below its 50-day and 200-day moving averages. Volume increased and a bullish divergence between equal lows for price and higher lows from the momentum study has failed to generate much upside response.
The longer-term chart above also points to further declines. Prices are below the declining 40-week average. The MACD oscillator is bearish and prices have nearly worked their way through the $65-$60 support area, which was former resistance in 2014. The next likely price target for VFC is $55.