Abercrombie and Fitch (ANF) recently posted higher profits despite flat sales during the 3 months to October 31. Abercrombie & Fitch profit upNow from a technical perspective, the price action last week was critical as well, ending the week with a 25.04% jump on Friday. ANF Daily Chart 11/10 (click to enlarge)Note that ANF has been consolidating since March. It dipped in July through August but recovered thereafter. The price action up to last week was already suggestive of a price bottom. The breakout on Friday completed the bullish breakout signal. Also note that price is now back above the cluster of 200-, 100-, and 50-day simple moving averages (SMAs). If the market can keep price above these SMAs, we will have more evidence of a bullish reversal.