3 Retail Stocks Rising on Big Volume
Zumiez (ZUMZ) is a specialty retailer of action sports related apparel, footwear, equipment and accessories operating under the Zumiez brand name. This stock is trading up 8% at $27.44 in recent trading.
Today's Volume: 905,000Average Volume: 609,542 Volume % Change: 139% Shares of ZUMZ are rising sharply today after William Blair said investor sentiment is already weak and reiterated its outperform rating on the stock. >>Stocks With Recent Analyst Upgrades From a technical perspective, ZUMZ is bouncing strongly to the upside here with above-average volume. This move is coming off of oversold territory, since its current relative strength index reading is near 40. This move is also coming after the stock recently plunged from its August high of $36.02 to today's low of $25.01. Traders should now look to play the next major breakout trade for ZUMZ if it can continue to bounce off oversold levels. That breakout will hit once ZUMZ manages to take out $28.33 to $29.86 with high volume. Traders should now look for long-biased trades in ZUMZ as long as it's trending above today's low of $25.01, and then once it sustains a move or close above those breakout levels with volume that's near or above 609,542 shares. If that breakout triggers soon, then ZUMZ will have a great chance of re-testing or possibly taking out its 50-day moving average of $32.14.
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