PetSmart (PETM) is a specialty provider of products, services and solutions for the lifetime needs of pets. This stock is trading up 1% at $58.16 in recent trading.
Today's Volume: 758,000Average Volume: 936,984 Volume % Change: 68% From a technical perspective, PETM is continuing its upward momentum here after the stock closed back above its 50-day moving average of $57.19 yesterday. This move is quickly pushing PETM within range of triggering a major breakout trade. That trade will hit once PETM takes out some near-term overhead resistance at $59.36 with high-volume. Traders should look for long-biased trades in PETM if it can sustain a move or close above $59.36 with volume that's near or above 936,984 shares. If we get that action soon, then I would consider it very bullish price action since PETM will be trending in all-time high territory. Some potential upside targets are $65 to $70 if that high-volume breakout triggers in the coming days or weeks. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV