Three-Month Average Volume: 143,500
From a technical perspective, SMT spiked higher here right above some near-term support at $1.35 with slightly lighter-than-average volume. This move briefly pushed shares of SMT back above its 200-day moving average of $1.55 and right below its 50-day moving average of $1.61. Shares of SMT closed off its intraday high of $1.60 with volume that was just a tad bit below its three-month average action of 143,500 shares.
Traders should now look for long-biased trades in SMT as long as it's trending above $1.35, and then once it sustains a move or close above its 200-day at $1.55 and its 50-day at $1.61 with volume that hits near or above 143,500 shares. If that breakout hits soon, then SMT will set up to re-test or possibly take out its next major overhead resistance levels at $1.85 to $2.08. Any high-volume move above $2.08 will then put $2.20 to $2.50 into focus for shares of SMT.American Apparel American Apparel (APP) designs, manufactures and sells for women, men, children and pets through retail, wholesale and online distribution channels. This stock closed up 3.1% to $1.33 on Thursday. Thursday's Range: $1.27-$1.35 52-Week Range: $0.72-$1.70 Volume: 396,000 Three-Month Average Volume: 359,719 From a technical perspective, APP bounced higher here right above some near-term support at $1.25 and its 50-day moving average of $1.23 with above-average volume. This move is quickly pushing shares of APP within range of triggering a near-term breakout trade. That trade will hit if APP manages to take out some near-term overhead resistance levels at $1.38 to $1.45 with high volume. Traders should now look for long-biased trades in APP as long as it's trending above its 50-day at $1.23, and then once it sustains a move or close above those breakout levels with volume that hits near or above 359,719 shares. If that breakout hits soon, then APP will set up to re-test or possibly take out its next major overhead resistance levels at $1.58 to $1.70. Any high-volume move above $1.70 will then push shares of APP into new 52-week-high territory, which is bullish technical price action. The next major resistance levels after $1.70 sit at $1.90 to $2.20.
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