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Middleby(MIDD), through its operating subsidiaries, is engaged in the design, manufacture, marketing, distribution, and service of a line of cooking and warming equipment used in all types of commercial restaurants and institutional kitchens, and food preparation, cooking and packaging equipment for food processing operations. This stock is trading up 2.4% at $100.67 in recent trading.
Today's Volume: 113,000
Average Volume: 104,100
Volume % Change: 80%
From a technical perspective, MIDD is moving modestly higher here back above its 50-day moving average of $99.63 on decent volume.
Traders should continue to look for long-biased trades as long as MIDD is tending above that 50-day with strong upside volume flows. I would consider any up day that registers volume near or above 104,100 as bullish. If MIDD can maintain its trend above the 50-day, then it should re-test its next major overhead resistance level at $104. If we get that move, then any high-volume move over $104 should be considered very bullish since it will mean that MIDD is trending in all-time high territory.
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.