Stocks On The Move - August 16
Stocks Rise on Heavy Volumn:
- Parlux Fragrances Inc. (PARL): after hammered hard last Friday by 44%, shares of Parlux Fragrances, a beauty-related products maker today surged 25.69% to $6.36 per share after the company sold the rights to Perry Ellis fragrance to Victory International for $140 million. The stock may about to start a new rally with K line approaching D line. Low ROC should also attract bargain hunters. The stock was the second winner on Nasdaq today with 6.78 million shares traded.
- Abercrombie & Fitch Co.(ANF): shares of New Albany, Ohio based youth apparel retailer jumped 14.19% to $63.4 per share on strong second quarter earning with bullish forecast for the year. Now the stock is back to previous resistence there could be some selling pressure as ROC is at overbuy level. However if the stock can break thru the resistence the stock may head for a strong rally with KD rising and MACD now above 0. The stock was the fifth leading gainer on NYSE today with 14.3 million shares traded.
Stocks Drop on Heavy Volumn:
- Daktronics Inc. (DAKT): shares of Brookings, South Dakota based scoreboard maker plunged 27.67% to $22.4 per share on dissappointing first quarter report which missed Wall Street targets. This ended the rally which began last November and the stock could head for the next supoprt around $20 per share. The stock was the biggest loser on Nasdaq today with 13.8 million shares traded.
- Mills Corp. (MLS): shares of Arlington, Virgina based shopping center REIT kept going down by losing another 19.83% to new 52 weeks low of $12.94 per share as the company fired its president. Now with ROC reaching oversold level we should expect bounce back sometime. But since the company is still in turnmoil, wait for ROC to bounce back up before buying. The stock was the leading decliner on NYSE today with 11.67 million shares exchanged hands.
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