Sears Retreats From High

Sears Holdings Corp SHLD shares are trading higher by $0.30 (3.3 percent) at $8.48 in Thursday's session. The catalyst for the rally is the announcement that the company has secured a new line of credit up to $200 million.

After a higher open, it continued in that direction until it found willing sellers at $8.89 and reversed course. That high matches its high from Tuesday's session.

Since reaching that level, it has continued to make new lows on the day, with the current one standing at $8.45. In order to fill the void in price from Wednesday's session, the issue would need to reach $8.40.