Barnes & Noble
Monday's Volume: 4.05 million
Three-Month Average Volume: 1.36 million
Volume % Change: 232%
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From a technical perspective, BKS ripped sharply higher here back above its 50-day moving average of $14.89 with strong upside volume. This move is quickly pushing shares of BKS within range of triggering a big breakout trade. That trade will hit if BKS manages to take out some near-term overhead resistance levels at $16.40 to $17.31 with high volume.
Traders should now look for long-biased trades in BKS as long as it's trending above Monday's low of $14.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.36 million shares. If that breakout hits soon, then BKS will set up to re-test or possibly take out its next major overhead resistance levels at $18.66 to $18.94. Any high-volume move above those levels will then give BKS a chance to trend north of $20.