Finish Line Inc FINL shares are trading lower by $0.60 (2.4 percent) at $23.39 in Friday's session. It has been a wild ride for the issue as reporting an inline Q2 report with a slight beat for revenues.
At first, the issue spiked to $25.62 in the pre-market session before sharply reversing course. That marked the highest level since September 24, when it made a daily high of $25.29 before ending that session at $24.77. Interestingly, the issue swooned to $19.91 the following day, when the Street was dissatisfied with its inline Q2 report that came up a bit shy on revenues.
The gains slowly eroded and the issue couldn't even manage a higher open. In the first few minutes of trading action, it found resistance just below Thursday's close ($23.99), only reaching $23.94. On its quick spike down, it found support just above its September 13 low ($22.21), only reaching $22.30 and staged a quick rebound.
If the rally can clear the close, there may be additional resistance at Thursday's high of $24.25. There may also be additional resistance in the issue at the pair of highs from September 7 ($24.52) and September 8 ($24.45).
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