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Francesca's(FRAN - Get Report) operates a national chain of retail boutiques designed and merchandised. This stock is trading up 5% at $29.14 in recent trading.
Today's Volume: 2.9 million
Average Volume: 524,803
Volume % Change: 1352%
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Shares of FRAN are ripping higher today after the company announced the pricing of a follow-on offering and wavier of lock-up restrictions; prices 9 million shares at $27.60.
From a technical perspective, FRAN is bouncing solidly right near its 50-day moving average of $27.02 today with heavy volume. This move is quickly pushing FRAN within range of triggering a near-term breakout trade. That trade will hit once FRAN takes out some near-term overhead resistance at $30.50 with volume.
Traders should now look for long-biased trades once FRAN sustains a move or close over $30.50 with volume that's near or above 524,803 shares. If we get that action soon, look for FRAN to make a run at its recent highs of $32.92 to $33.93.