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VIPS) offers high-quality branded products to consumers in China through flash sales on its vipshop.com Web site. This stock is trading up 3.7% at $25.34 in recent trading.
Today's Volume: 514,000
Average Volume: 180,971
Volume % Change: 456%
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From a technical perspective, VIPS is ripping higher here right above some near-term support at $22 with above-average volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low near $6 to its recent high of $27.22. During that move, shares of VIPS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now started to push VIPS within range of triggering a major breakout trade. That trade will hit if VIPS manages to clear its 52-week high of $27.22 with high volume.
Traders should now look for long-biased trades in VIPS as long as it's trending above today's low of $24.15, and then once it sustains a move or close above $27.22 with volume that hits near or above 180,971 shares. If that breakout triggers soon, then VIPS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $30 to $33 in the near future.