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Fifth & Pacific (FNP), which is engaged in designing and marketing a range of apparel and accessories, operates through four segments: Juicy Couture, Kate Spade, Lucky Brand and Adelington Design Group. This stock is trading up 10.6% at $14.21 in recent trading.
Today's Volume: 3.14 million
Average Volume: 1.65 million
Volume % Change: 190%
From a technical perspective, FNP is gapping sharply higher here right above its 50-day moving average of $12.23 with monster upside volume. This stock has been uptrending strongly for the last three months, with shares soaring from its low of $9.98 to its intraday high of $14.42. During that move, shares of FNP have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed FNP into breakout territory, since the stock has cleared some past overhead resistance at $14.06.
Traders should now look for long-biased trades in FNP as long as it's trending above today's low of $13.39, and then once it sustains a move or close above $14.06 to $14.42 with volume that hits near or above 1.65 million shares. If FNP can maintain that trend, then this stock will set up to re-test or possibly take out its 52-week high of $15.39. Some possible upside targets off a move above its 52-week high are $17 to $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.