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Steven Madden(SHOO - Get Report) designs, sources, markets and sells fashion-forward name brand and private-label footwear for women, men and children and name brand and private-label fashion handbags and accessories. This stock is trading up 6.6% at $45.78 in recent trading.
Today's Volume: 731,000
Average Volume: 341,200
Volume % Change: 245%
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From a technical perspective, SHOO is ripping higher here right off its 50-day moving average of $43.44 with above-average volume. This move has started to push SHOO into breakout and 52-week-high territory, since the stock has taken out some key overhead resistance levels at $45.33 to $45.55, and above $45.70.
Traders should now look for long-biased trades in SHOO as long as it's trending above those breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above its three month average action of 341,200 shares as bullish. If SHOO can maintain that trend with volume, then look for this stock to trade north of $50 in the near future.