PetSmart (PETM) is a specialty provider of products, services and solutions for the lifetime needs of pets. This stock is trading up 10.8% at $61.66 in recent trading.
Today's Volume: 3.9 millionAverage Volume: 2.8 million Volume % Change: 690% Shares of PETM are skyrocketing today after the company beat Wall Street expectations as all aspects of its business grew. One analyst called the results a "howler" of a first quarter. (I featured PetSmart earlier this week in "5 Stocks Set to Soar on Bullish Earnings.") From a technical perspective, PETM is gapping up sharply higher here on above average volume. This move has pushed PETM into breakout territory since the stock has blown through some near-term overhead resistance at $59.36. Traders should now look for long-biased trades if PETM can manage to take out its daily high with strong volume. At last check, PETM has hit an intraday high of $62.10 and volume is well above its three-month average action. On the flipside, traders should look for short-biased trades if PETM takes out today's low of $59.80 with heavy volume.
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