Chico's FAS Inc

Strong growth in retail sales, as reported on Tuesday, has proved to be very beneficial for shareholders of CHS. As you can see from the chart below, CHS reached a new all-time high today after closing above the $46.50 resistance. Technically speaking, CHS is now in uncharted territory, with very little overhead resistance preventing the bulls from sending the price even higher. We'd expect the $46.50 level to act as a level of support in the event that investors do start to take profits and send prices lower.

We've also added the MACD, which has recently crossed above its signal line. This bullish crossover is likely to be used as confirmation of a continued move higher.