The 6.20 area was tough but taken care of in short order, as was 6.45 which was a test if an easy one. The breakout is confirmed and previous notions of SVU's valuation need to be carefully re-examined by shorts. This thing is showing very little patience in its run back to the $10 area.
I think we take a 6.45 support to...? The Jan 13 5 calls still look undervalued with little time value priced in. This stock looks ready to take out 10 this year as good management takes over, bad stores are closed and debt is further retired.
Next stop - 6.80's? Can 8.40 be a couple months off? The general market tape is good. If I was short SVU I would be concerned that my ride is over.
SVU has a very strong support(triple) at $3.9 to $4.06. There is no close resistance above $4.6. I will not be surprise if it go all the way to $4.6-$4.9 from $4.1. Plu, it will be more news come from the new management as they taking over. Those news will be adding more fuel on the fire.