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Gap(GPS - Get Report) is an international specialty retailer operating retail and outlet stores. The company sells casual apparel, accessories and personal care products for men, women, and children. This stock is trading up 7.5% at $33.74 in recent trading.
Today's Volume: 11.1 million
Average Volume: 5.84 million
Volume % Change: 197%
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From a technical perspective, GPS is soaring higher here back above both its 200-day at $31.76 and its 50-day at $32.02 with monster upside volume. This move is quickly pushing shares of GPS within range of triggering a near-term breakout trade. That trade will hit if GPS manages to take out some near-term overhead resistance levels at $33.88 to $34.50 with high volume.
Traders should now look for long-biased trades in GPS as long as it's trending above $33 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.84 million shares. If that breakout triggers soon, then GPS will set up to re-test or possibly take out its next major overhead resistance levels at $35.69 to $37.