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Shoe Carnival(SCVL - Get Report) is a family footwear retailer. Shoe Carnival offers customers an assortment of dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. This stock is trading up 7.2% at $21.31 in recent trading.
Today's Volume: 133,000
Average Volume: 106,803
Volume % Change: 136%
Shares of SCVL are moving sharply higher today after the company beat Wall Street earnings estimates by 3 cents per share, reported revenues in-line and guided second quarter EPS below consensus.
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From a technical perspective, SCVL is ripping higher here back above its 50-day moving average of $19.89 on above average volume. This move is also pushing SCVL into breakout territory since the stock has taken out some near-term overhead resistance at $21.12.
Traders should continue to look for long-biased trades as long as SCVL is trending above its 50-day and $21.12 with strong upside volume flows. I would consider upside volume that's near or well above 106,803 shares as bullish. If we get that action, look for SCVL to hit its next significant overhead resistance levels at $22.61 to $22.70 and possibly take those levels out.