Big Lots could see a big move after earnings this week.
The department store operator’s implied volatility — how far up or down its stock could swing after its earnings report on Friday — is higher than it has been in years, Piper Sandler’s Craig Johnson told CNBC last week.
Overall, the stock “has a pretty constructive setup heading into the earnings print,” the firm’s senior technical research analyst said Friday on CNBC’s “Trading Nation.”
“You had a little bit of a bullish flag that’s formed,” Johnson said, referencing Big Lots’ stock chart. “The $64 level, which it’s coming back up to retest, is a pretty big overhead resistance level, and any sort of break above that would be a…