Wayfair Inc W shares are trading higher by $4.50 (12 percent) at $40.49 in Monday's session. The Street is paying more attention to its Q1 revenue beat of over $50 million as opposed to higher-than-expected EPS loss.
After a higher open, it retreated and found support ahead of the top of Friday's range ($36.39), only reaching $36.82, before continuing its move higher.
So far it has reached $40.86 and is not far off that level. If the rally continues, there may be some additional resistance at its April 25 high ($41.06) and its April 22 high ($41.58).
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