Patrick Industries (PATK) is a manufacturer and distributor of building products and materials to the recreational vehicle and manufactured housing industries. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, household furniture, fixtures and commercial furnishings, marine, and other industrial markets. This stock is trading up 14% at $13.05 in recent trading.
Today's Volume: 369,000Average Volume: 109,102 Volume % Change: 442% From a technical perspective, PATK is running sharply higher here and continue on its big-time gap-up momentum from yesterday. This move is quickly pushing PATK within range of triggering a major near-term breakout trade. That trade will hit once PATK takes out some near-term overhead resistance at $13.30 with high-volume. Traders should now look for long-biased trades if PATK can sustain a move or close over $13.30 with volume that's near or above 109,102 shares. If we get that action soon, look for PATK to continue its trend higher towards $15 to $17 in the near future. Traders should avoid this stock or look for short-biased trades if PATK moves back below its gap-up day low of $10.50 with heavy volume, or even below today-s low of $11.30. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
Twitter and become a fan on Facebook.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts