Shares of Abercrombie and Fitch (ANF) is sliding sharply this past couple of weeks after it failed to clearly break above 14.00. Now, it is likely to revive the bearish trend, or at least push into a new low on the year. If so, the next key level to monitor for support will be 10.00. But, as we noted in our previous assessment of ANF, we might have one more line of defense from the bullish outlook at 12.00.ANF Daily Chart(click to enlarge)False Price Bottom?- Price action throughout 2017 looked like a price bottom, especially when price shot up in May towards 14.00.- This looks like a bullish breakout swing, but it ran out of fuel.- It essentially respected the resistance around 14.00, which was a previous support. This is indicative of a bearish market.- Also, price held under the 200-day simple moving average (SMA), keeping the the daily chart bearish.- Finally, price recently dipped below a rising trendline, also signaling bearish continuation.Support Factors Around 12:- The bearish outlook could be challenged around 12.00.- There is the 100-day simple moving average, and it represents the middle of the previous range, which should hold as support if ANF is turning bullish. - Finally, the RSI is approaching 40. If price turns up from 12 and the RSI turns up from 40, the prevailing bullish swing in April-May would remain in play, and another such swing might follow.