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Charming Shoppes(CHRS) is a multi-brand, specialty apparel retailer with a market share in women's plus-size specialty apparel. This stock is trading up 6.2% to $5.98 in recent trading.
Today's Range: $5.66-$6.05
52-Week Range: $2.29-$6.08
Volume: 2.4 million
Three-Month Average Volume: 1.5 million
>>5 Stocks Setting Up to Break Out
From a technical perspective, CHRS is ripping higher today on monster volume right above its 50-day moving average of $5.48. This strong uptrend has now pushed CHRS within range of triggering a major near-term breakout. That breakout will hit once CHRS takes out some near-term overhead resistance at 6.05 to $6.08 with volume.
Traders should now look for long-biased trades if CHRS can sustain a move and close above those levels on volume that's near or well above 1,504,560 shares. If we get that action soon, then look for CHRS to re-test its next significant overhead resistance levels at $6.32 to $6.91 in the near future.
Charming Shoppes was also one of my
earnings short-squeeze plays this week.