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Inter Parfums(IPAR - Get Report) operates in the fragrance business, and manufacture, market and distributes an array of fragrances and fragrance related products. This stock is trading up 1% at $20.10 in recent trading.
Today's Volume: 119,000
Average Volume: 75,154
Volume % Change: 162%
From a technical perspective, IPAR is ripping higher here right above its 50-day moving average of $18.99 with above-average volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit if IPAR manages to take out some near-term overhead resistance levels at $20.12 to $20.90 with high volume. At last check, IPAR has hit an intraday high of $20.80 and volume is well above its three-month average action of 75,154 shares.
Traders should now look for long-biased trades in IPAR as long as it's trending above its 50-day moving average of $18.99, and then once it sustains a move or close above those breakout levels with volume that hits near or above 75,154 shares. If that breakout hits soon, then IPAR will set up to re-test or possibly take out its next major overhead resistance levels at $23 to $24.11.