American eagle stock price is hovering near $23

American Eagle stock price is hovering near $23.40 after an early morning pullback, in line with SPDR S&P Retail ETF declines. Investors are reacting to mixed economic data, with inflation pressures possibly impacting apparel margins. Momentum traders are monitoring the RSI levels for oversold entry opportunities. American Eagle is also collaborating with one of the country's most influential athletes, Kansas City Chiefs tight end Travis Kelce, who is now engaged to Taylor Swift. The retailer launched a tie-in with Kelce's Tru Kolors clothing brand the day after he and Swift announced their engagement. Vaughan Nelson Investment Management L.P. increased its stake in shares of American Eagle Outfitters, Inc. ( NYSE:AEO - Free Report ) by 41.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,307,326 shares of the apparel retailer's stock after acquiring an additional 678,536 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 1.33% of American Eagle Outfitters worth $22,196,000 at the end of the most recent quarter. Institutional buying has been steady, suggesting potential accumulation ahead of the holiday sales quarter. Technical resistance remains around $24.20, a breakout above which could signal renewed bullish sentiment.