Ascena retail group is a holding company for a national chain of women’s apparel specialty stores.

For the second quarter, the company has published a net income increased by 50% to $63.7 million, compared to net income of $42.5 million, for the last year’s second quater. Net sales grew by 15% to $862 million against $752.1 million, a year earlier. This performance is due to 61% increase e-commerce sales, 8% increase in comparable store sales and good result from new stores.

Since end November, Ascena’s stock has initiated a bullish trend with a rise of 73%. The general bullish trend of U.S stock markets and good sales are important elements to explain why this share is skyrocketing. The 20-days moving average is still in upward trend, so it could support share again.

In this case, it could be attractive for investors to take a buy order above USD 44 in closing price to target USD 47.7.The stop loss will be positioned at USD 42.