In Tuesday evening’s forecast report, J. Crew Group (JCG) signaled a potential pre-market open Wednesday near 42.75 to 43.90. The stock’s tendency to add to evening gains the following day, along with a firm move higher in night trading, highlighted potential long plays for early Wednesday. A potential buying opportunity at 42.70 to 43.25 emerged, and secondarily, at 43.50 to 43.75.
JCG opened at 44.45, just above our target, and the high of the pre-market session. The stock pulled back to a pre-market low of 43.46, about in the middle of our target range. A buy at the 43.36 pre-market low, as measured to the 44.45 regular session high, is 2.5% in the black.
