Dead Cat Bounce on Quicksilver (ZQK)Quiksilver Inc. ($ZQK) is trading on higher than normal volume today. Quiksilver Inc. is down -38.62% at $3.37 on a volume of 29,347,000 shares. That’s already 15.92 times the normal daily volume of 1,792,623.
Technical traders look at heavy volume as we see in Quiksilver Inc. today to confirm existing or developing signals.
Quicksilver (ZQK) announced disappointing earnings this morning and is getting murdered by the bears. The term “dead cat bounce” comes to mind. The stock is up from the open, which indicates that the bulk of the selling has already taken place. Those who look to buy severe selloffs might consider ZQK for a short-term dead cat bounce trade. Stops should be kept just below today’s intraday low of $3.13.
Quiksilver Inc. Quiksilver Inc designs, develops and distributes branded apparel, footwear, accessories and related products, catering to the casual, youth lifestyle associated with the sports of surfing, skateboarding and snowboarding.