NEW YORK (TheStreet) -- Three mall anchors, two big box retailers and three discount retailers became momentum stocks following their quarterly earnings reports released between Nov. 12 and Nov. 20. All but one reached or exceeded technical levels where booking profits was justified. Let's review these performances.
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While holiday shoppers enjoyed "door buster" deals investors were able to book profits at key technical levels.
Dillards ($117.88) has a year-to-date gain of 21% and is up 8.8% since reporting quarterly results on Nov. 13. The stock traded as high as $124.40 on Nov. 20, not quite a new high but high enough for investors to book profits at a key technical at $120.00. The key levels to hold on weakness are the 50-day and 200-day simple moving averages at $108.83 and $106.80, respectively. The key technical levels are $120.00 and $131.50.
Nordstrom ($76.36) has a year-to-date gain of 24% and is up 5.5% since reporting quarterly results on Nov. 13. The stock traded to an all-time intraday high at $77.20 on Black Friday shy of the key technical level at $78.70 where investors should book profits on additional strength. Investors should also consider a sell stop below the stock's key weekly moving average at $73.08.
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