Lumber Liquidators Holdings Inc LL shares are trading higher by $1.12 at $15.34 in Wednesday's session. Despite a Q3 loss that was $0.13 more than the Street estimates, the issue is staging a rally.
The initial reaction to the report was a quick low volume sell-off from Tuesday's close ($14.22) to $13. By the open, the issue was trading higher at $15 and after a brief dip to $14.46, the rally resumed. The ensuing rally found resistance in the same area as a pair of highs from October 21 ($16.44) and October 22 ($16.31), peaking at $16,36 and falling back under $16.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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