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Elizabeth Arden(RDEN) is a beauty products company with a range of portfolio of fragrance, skin care and cosmetics brands. This stock is trading up 4% at $45.79 in recent trading.
Today's Volume: 301,000
Average Volume: 172,984
Volume % Change: 170%
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From a technical perspective, RDEN is bouncing to the upside here with above average volume. This move is following yesterday's monster gap up which took RDEN from $39 to $47.50.
Traders should now look for long-biased trades in RDEN as long as it's trending above $44, and then once it triggers a breakout above $47.50 with high volume. Look for a sustained move or close above $47.50 with volume that's near or above 172,984 shares. If we get that action soon, then look for RDEN to hit $50, or possibly even north of $50. Keep in mind that this is a short-term trading call, since RDEN is a bit overbought with a current relative strength index reading of 78.