American eagle stock price institutional buying has been steady

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. Apparel sales are not driven so much by personal needs but by seasons, trends, and innovation, and over the last few decades, the category has shifted meaningfully online. Retailers that once only had brick-and-mortar stores are responding with omnichannel presences. The online shopping experience continues to improve and retail foot traffic in places like shopping malls continues to stall, so the evolution of clothing sellers marches on. Retailers such as American Eagle ( AEO ), Gap ( GAP ), and Kohl's ( KSS ) have all called out the strength of jeans in recent results. Shares of Levi Strauss ( LEVI ) are up more than 30% this year. The American Eagle stock price edged up mid-day to $23.57 as broader retail shares rebounded. Chartists point to the 50-day moving average as a key support level to maintain strength into the holiday quarter.