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Earlier this morning, Charming Shoppes (CHRS) released its fourth-quarter earnings results -- which perhaps were overshadowed a bit by the glut of tech news. Let's take a look at how the apparel retailer (which includes store brands Lane Bryant, Fashion Bug, Catherines, and Petit Sophisticate Outlet) performed in the last quarter. Sales for the most recent quarter dropped 4% at stores open at least a year. Yes, the company's year-over-year loss wasn't quite as bad, when taking one-time items out of the equation (a 10-cent loss versus expectations for a 13-cent loss) -- but it was the drop in sales that have the shares more than 14% lower this afternoon.Technically, today's drop is bad -- but a 14% drop looks far worse when the drop is from the $6.60 region to the $5.40 region. Nevertheless, a loss is a loss. That said, CHRS investors or bulls can take heart in the fact that the stock found a measure of support at the $5.40 level. This scenario played out in the past, and CHRS eventually rebounded. The problem is that the stock is now below its 10-, 20-, and 50-day moving averages; all of which could stifle any rally attempt. However, the equity's 50-week moving average is advancing toward the $5.3 region to lend a hand if needed. Further support could come from CHRS's 10-month moving average, which has provided support since May 2009. This trendline provided support in the past, watch for it to happen again in this instance. Does this mean we should all run out and stock up on CHRS at a value price? Not necessarily, the technical future is murky -- as there may be too much resistance for the stock to battle through.
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