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TheStreet Open House

8 Stocks Spiking on Unusual Volume

Stocks in this article: ACHC RDWR AWAY ANSS FOSL VNET GOOG PETM

Fossil

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Fossil (FOSL - Get Report) is a global designer, marketer and distributer company that specializes in consumer fashion accessories. This stock is trading up 1% at $72.53 in recent trading.

Today's Volume: 2 million

Average Volume: 1.6 million

Volume % Change: 147%

Shares of Fossil are moving modestly higher today after Citigroup upgraded the stock to buy from neutral with an $88 price target. The firm said that newly lowered EPS is achievable.

From a technical perspective, FOSL is moving modestly higher here on above average volume. This stock recently gapped down huge from over $125 to $75.50 on monster volume. Since that huge plunge, FOSL has trending even lower to its recent low of $71.20. This move has pushed the stock into extremely oversold territory since its current relative strength index is 16.34.

Considering that this stock is so oversold, traders can now look for long-biased trades as long as FOSL can hold that recent low of $71.20, and if it can manage to close near its daily high today of $74.77.

Fossil, one of Lone Pine Capital's holdings, shows up on a list of 5 Beaten-Down Stocks to Invest in Now.

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