Yeah, I’d never heard of them either. But we do know them, this is the clothing company formerly known as Liz Claiborne, with brands like Juicy Couture, Kate Spade, and Lucky Brand under its belt. The name change, and I’m sure a lot more besides, appears to have worked wonders too. Take a look.
Fifth & Pacific ($FNP) has staged a remarkable recovery from around $4.00 18 months ago, to over $17.00 today. It’s this final thrust that interests me the most. Look at the daily chart below with the circled area, that was mid-January where we got a high-volume surge through previous resistance. This has all the hallmarks of a classic breakout or kick-off move that propels the stock into a sustained move higher.
Zooming in on that daily chart it’s also interesting to see the volume continue to come in on the upside. The last two months are littered with accumulation days, and the recent consolidation was a reasonably shallow one given the pullback and volatility within the broader market. It’s possible we may still get a test of that mid-16′s level but I’d be happy to pick some up here while the accumulation shows no signs of abating.