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1-800 Flowers.com (
FLWS) provides customers with fresh flowers and the finest selection of plants, gift baskets, gourmet foods, confections, balloons and plush stuffed animals perfect for every occasion. This stock closed up 4.7% to $6.80 in Thursday's trading session.
>>5 Stocks Poised to Pop on Bullish Earnings
From a technical perspective, FLWS trended up here right above its 50-day moving average at $6.35 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $6.48 to $6.45, after pulling back from its recent 52-week high at $7.17. Shares of FLWS are now starting to move within range of triggering a major breakout trade. That trade will hit if FLWS manages to take out some near-term overhead resistance levels at $6.99 to its 52-week high at $7.17 with high volume.
Traders should now look for long-biased trades in FLWS as long as it's trending above its 50-day at $6.35 and then once it sustains a move or close above those breakout levels with volume that hits near or above 153,606 shares. If that breakout hits soon, then FLWS will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $8 to $9.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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