DALLAS, Texas - TwinTrader.com announces the publication of Breakout for TRLG; highlighting public companies on the move and what’s behind the surge.
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“True Religion Apparel Inc., together with its subsidiary, Guru Denim Inc., engages in the design, development, manufacture, marketing, distribution and sale of apparel in North and South America, Asia, Africa, Europe and Australia. Its products include denim jeans and jackets; corduroy pants and jackets; cotton, twill, linen and velvet pants and jackets; fleece sweat suits and hooded sweatshirts; skirts; knit shirts; T-shirts; shorts; and sportswear for men, women and children under True Religion Brand Jeans brand name…
“There are a couple of reasons for the recent breakout in True Religion Apparel Inc.’s stock. The first is the announcement that the company will be added to the S&P SmallCap 600 index…
“The second reason for the recent move in the stock is the announcement by Friedman Billings Ramsey that firm’s analyst, Karen Short, has raised the price target for the stock by 24%, and said that True Religion should beat analysts’ estimates for the second quarter…
“The attempted breakout above the $27 level is still in progress. If this resistance is cleared, the stock will trade in uncharted territory. The previous multi-year strong resistance of $24 was shattered as strong earnings expectations, momentum, good press and the stock’s inclusion to a major market index was too strong for the bears, affecting better than average volume as shorts bought back shares…”
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