Volume: 138,000

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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