Family Dollar Stores
Family Dollar Stores (FDO) operates a chain of self-service retail discount stores primarily for low- and middle-income consumers in the U.S. This stock closed up 3.8% at $67.48 in Friday's trading session.
Friday's Volume: 6.92 million
Three-Month Average Volume: 1.39 million
Volume % Change: 421%
From a technical perspective, FDO spiked notably higher here back above both its 200-day moving average of $66.39 and its 50-day moving average of $67.19 with strong upside volume. This move also pushed shares of FDO above some key near-term overhead resistance at $66.80. Market players should now look for a continuation move higher in the short-term if FDO manages to take out Fridays high of $67.88 with strong volume.
Traders should now look for long-biased trades in FDO as long as it's trending above its 200-day at $66.39 and then once it sustains a move or close above $67.88 with volume that's near or above 1.39 million shares. If we get that move soon, then FDO will set up to re-test or possibly take out its next major overhead resistance levels at $70 to $71.50. Any high-volume move above those levels will then give FDO a chance to tag $73 to $74.