J. Crew Volume Surge: Sellers Meet Bottom Fishers (JCG)

Posted in General 
May 30th, 2008

Shares of J. Crew Group, Inc. (NYSE: JCG) have already almost tripled their normal trading volume.  An average day is 1.46 million shares, and we are already at about 4.1 million shares in only 20 minutes.

Last night, the company beat earnings but its guidance was dismal and completely caught everyone off guard.

$40.00 had been a key support level all year, but $40.00 looks like it will be resistance now.

J. Crew closed down 1.5% at $46.91 in regular trading yesterday and shares fell 17% to $39.00 in after-hours trading last night.  Its 52-week trading range is $33.69 to $57.17.

Jon Ogg
May 30, 2008

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