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Chefs' Warehouse(CHEF - Get Report) is a distributor of specialty food products in the U.S. Chefs Warehouse focuses on serving the specific needs of chefs who own and/or operate independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. This stock is trading up 11.6% at $14.05 in recent trading.
Today's Volume: 890,000
Average Volume: 135,306
Volume % Change: 976%
From a technical perspective, CHEF is bouncing hard here right off some recent support at $12.57 with monster volume. This move follows a major gap down from a few days ago that took the stock from over $16 to $12.57 with heavy volume.
Traders should now look for long-biased trades in CHEF as long as it's trending above that gap down day high of $14.11 with strong upside volume flows. I would consider any upside volume day that registers near or above 135,306 shares as bullish.
Keep in mind that this move for CHEF is also coming off of extremely oversold levels, since its current relative strength index reading is 31.64.