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Michael Kors(KORS - Get Report) 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 million
Average 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.