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Two retailers whose shares are popping on earnings reports are among our top charts to watch.
Express Inc. EXPR, +4.80% jumped $1.09 to $5 on 6.7 million shares traded Thursday, more than four times average volume. The apparel retailer released third-quarter financial results that beat analysts’ estimates. After a 12-month decline, the stock has been in a rising channel since September, and Thursday’s 28% move broke it out above the channel top, closing right at lateral resistance. Next target is $5.75, last reached in January.
Tilly’s Inc. TLYS, +1.37% exploded out of a base on Thursday, rising $1.68, or 16.7%, to $11.70. The retailer Wednesday reported earnings and revenue that topped Wall Street estimates. The move, on 1.1 million shares traded, well over four times average volume, broke the stock through several layers of resistance. Next target is the February highs at around $13.
GTT Communications Inc. GTT, +3.61% climbed 53 cents to $10.52 on 1.5 million shares traded Thursday, nearly double average volume. The move, on no news reported from the cloud-networking provider, edged the stock above key lateral resistance. After a huge downtrend from above $42 in May, the stock has been up eight sessions in a row. It got up to as high as $11.84 Thursday before a late-session pullback, and looks poised for a possible run into the mid-teens.
See Harry’s video-chart analysis on these stocks.
The writer has no holdings in any securities mentioned.
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis and live chart presentations.
