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7 Stocks Soaring in a Weak Market

Black Diamond

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Black Diamond (BDE), together with its subsidiaries, engages in designing, manufacturing, and marketing outdoor performance products for climbing, mountaineering, backpacking, skiing, and other outdoor recreation activities in the U.S. and internationally. This stock is trading up 4.4% to $9.45 in recent trading.

Today's Range: $9.03-$9.70

52-Week Range: $6.00-$10.10

Volume: 100,000

Three-Month Average Volume: 134,534

Shares of BDE are ripping higher today after the company said net income was up 122% to $2.59 million from $1.168 million for the period ending March 31. Revenue jumped 19% to $46.41 million from $39.05 million as domestic sales increased 19% to $18.8 million and international revenues expanded 20% to $27.6 million.

From a technical perspective, BDE is challenging its 50-day moving average of $9.43 today on decent volume.

Traders should now look for long-biased trades in BDE if it can manage to close above its 50-day, and then trigger a breakout trade above some near-term overhead resistance at $10.10 with high-volume. Look for volume off a sustained move or close over $10.10 that's near or above 134,534 shares. If we get that action soon, BDE will enter new 52-week high territory, and the stock should continue its uptrend towards $11 to $12.

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