Abercrombie and Fitch Co. $ANF has been shifting in the last couple of years from a bearish trend into a sideways one, or possibly into a bullish one. First of all, let's recognize the multi-year downtrend that has brought price from a high just above $85 to a low around $9.00, which was the low in 2000. Since tagging below $9.00 in 2017, price has stabilized. ANF Weekly Chart(click to enlarge)Critical Support and Price Bottom:- That support just under $9.00 was critical and suggests that the market is making a stand at these prices. - Furthermore, check out the key support/resistance at $15.50 (perhaps more clear on the daily chart below). Price broke above it, and then bounced off of it as support. This suggests a price bottom has been put in place, and the market has shifted from a bearish to at least a sideways trend.- The fact that price is now above the cluster of 200-, 100-, and 50-week simple moving averages also signal the end to the prevailing bearish trend. - Still, within this sideways mode, there could be downside risk back to $15.50, and if that doesn't hold, back down to $9.00.- For now the momentum in the short-term seems to be bullish, so I think the market will push ANF to $30 and perhaps $33 first. Trade Idea:- I would trade a pullback to $23, with a stop at $18, and a target of $33. This trade has exactly a 2:1 reward to risk profile.- If price does get to $30, I would take some profit and put on a trailing stop while moving the target to $40. This potentially improves the reward and locks in profit in case the market does NOT reach $33 before falling back to $18. - note that this is a medium-term trade that could span from 1 to 3 months. ANF Daily Chart(click to enlarge)