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PetMed Express(PETS - Get Report), a nationwide pet pharmacy, markets prescription and non-prescription pet medications and other health products for dogs, cats and horses direct to the consumer. This stock is trading up 10.7% at $11.20 in recent trading.
Today's Volume: 467,000
Average Volume: 215,345
Volume % Change: 411%
Shares of PETS are ripping higher today after the company said that its net income rose 2.6%, as lower costs helped boost its profitability.
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From a technical perspective, PETS is gapping higher here right off its 50-day at $10.14 and back above its 200-day at $11.16 with above-average volume. This move is quickly pushing PETS within range of triggering a major breakout trade. That trade will hit once PETS manages to take out some past overhead resistance at $12.30 with high volume.
Traders should now look for long-biased trades in PETS as long as it's trending above today's low of $10.50, and then once it sustains a move or close above $12.30 with volume that hits near or above 215,345 shares. If that breakout triggers soon, then look for PETS to re-test or possibly take out its next major overhead resistance level at $13.63.