Another stock that's pushing within range of triggering a major breakout trade is Zale (ZLC), a specialty retailer of fine jewelry in North America. This stock has been hit hard by the bears during the last three months, with shares off by 34%.
If you take a look at the chart for Zale, you'll notice that this stock has been trending range bound for the last two months, with shares moving between $3.85 on the downside and $4.97 on the upside. Shares of ZLC are now just starting to bounce off its 200-day moving average of $4.23 a share and its quickly moving within range of breaking out back above its 50-day moving average of $5.02 a share and back above the upper-end of its recent sideways trading pattern.
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