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La-Z-Boy(LZB - Get Report) manufactures, markets, imports, distributes and retails upholstery products, accessories and casegoods furniture products. This stock is trading up 8.4% at $16.97 in recent trading.
Today's Volume: 1.3 million
Average Volume: 423,055
Volume % Change: 265%
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From a technical perspective, LZB is gapping up sharply higher here with heavy volume into breakout territory above some near-term overhead resistance levels at $15 to $15.68. This move has also started to push LZB above its previous 52-week high of $16.43.
Traders should continue to look for long-biased trades in LZB as long as its trending above today's low of $15.85 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average volume of 423,055 shares as bullish. If LZB can maintain that trend, then look for this stock to tag $20 in the near future.
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.