3 Retail Stocks Rising on Big Volume
Michael Kors (KORS) engages in the design, marketing, distribution, and retail of branded women's apparel and accessories, and men's apparel. This stock is trading up 1.5% at $53.11 in recent trading.
Today's Volume: 3.52 millionAverage Volume: 3.54 million Volume % Change: 70% From a technical perspective, KORS is bouncing higher around some near-term support at $51.02 with decent volume. This move is coming after KORS sold off yesterday with massive downside volume. Traders should now look for long-biased trades in KORS as long as it's trending above $51.02 with strong upside volume flows. I would consider any upside volume day that registers near or above 3.54 million shares. If KORS can maintain that trend, then this stock will setup to re-test or possibly take out its all-time high of $57.35 in the near future. On the flip side, I would avoid KORS or look for short-biased trades if it mangos to take out $51.02 with high volume. Any move below $51.02 with volume could put KORS into danger of filing a gap from August that started around $41. To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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