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4 Unusual-Volume Stocks in Breakout Territory

Abercrombie & Fitch

Abercrombie & Fitch (ANF - Get Report), through its subsidiaries, operates as a specialty retailer of casual apparel for men, women and kids. This stock closed up 11.9% at $37.19 in Friday's trading session.

Friday's Volume: 14.15 million
Three-Month Average Volume: 3.53 million
Volume % Change: 345%

>>The Case for a Correction in Stocks

From a technical perspective, ANF gapped up sharply higher here back above its 50-day moving average of $34.08 with heavy upside volume. This move also pushed shares of ANF into breakout territory, since the stock took out some near-term overhead resistance at $36.50. Shares of ANF are now quickly moving within range of triggering another major breakout trade. That trade will hit if ANF manages to take Fridays high of $38.15 to some more key overhead resistance levels at $38.59 to $38.77 with high volume.

Traders should now look for long-biased trades in ANF as long as it's trending above Fridays low of $36.06 and then once it sustains a move or close above those breakout levels with volume that's near or above 3.53 million shares. If that breakout hits soon, then ANF will set up to re-fill some of its previous gap-down-day zone from August that started at $48.

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SYM TRADE IT LAST %CHG
ANF $21.76 0.18%
IRWD $13.87 2.82%
LOCK $15.25 1.33%
SON $44.52 0.20%
AAPL $125.01 -0.63%

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