J.C. Penney Department store operator J.C. Penney ( JCP) is trading up 5.9% at $21.40 in recent trading. Today's Volume: 11.5 million Average Volume: 9.03 million Volume % Change: 110% From a technical perspective, JCP is ripping higher here right off its 50-day moving average of $19.63 with above-average volume. This move has started to push shares of JCP into breakout territory, since the stock has taken out some near-term overhead resistance levels at $20.51 to $21.12. Shares of JCP are now quickly moving within range of triggering another near-term breakout trade, which will hit if JCP manages to take out some near-term overhead resistance at $21.69 and then its 200-day moving average at $22.82 with high volume. Traders should now look for long-biased trades in JCP as long as it's trending above those first tier breakout levels at $20.51 to $21.69 and then once it sustains a move or close above those second tier breakout levels with volume that hits near or above 9.03 million shares. If that breakout hits soon, then JCP will set up to re-test or possibly take out its next major overhead resistance levels at $24 to $26. Wal-Mart Stores Retail store operator Wal-Mart Stores ( WMT) is trading up 2.5% at $70.96 in recent trading. Today's Volume: 12.7 million Average Volume: 8.81 million Volume % Change: 145% Shares of WMT are trending higher here after the company said a lower tax rate boosted its net income by 8.6% during the fourth quarter, but the company offered a tempered forecast going forward as its lower-income shoppers struggle with rising gas prices, delayed income tax refunds and higher payroll taxes. From a technical perspective, WMT is bouncing higher here back above both its 50-day moving average at $69.49 and its 200-day moving average at $70.14 with above-average volume. This move is quickly pushing shares of WMT within range of triggering a near-term breakout trade, which will hit if WMT manages to take out some near-term overhead resistance levels at $71.70 to $72.70 with high volume.