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Pilgrim's Pride(PPC - Get Report) is a chicken producer with operations in the United States, Mexico and Puerto Rico. This stock is trading up 7.2% at $7.98 in recent trading.
Today's Range: $7.33-$8.15
52-Week Range: $2.91-$7.80
Volume: 1.8 million
Three-Month Average Volume: 939,511
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From a technical perspective, PPC is bouncing sharply higher here right off its 50-day moving average of $7.19 with monster volume. This move has pushed PPC into breakout territory since its trending above some near-term overhead resistance at $7.80. This move is also quickly pushing PPC within range of triggering an even bigger breakout trade. That trade will hit once PPC takes out some past overhead resistance at $8.61 with high volume.
Traders should now look for long-biased trades once PPC takes out $8.61 with volume that's near or above 939,511 shares. If we get that action soon, then PPC could continue its uptrend back towards its next significant overhead resistance level at $13.05.
Keep in mind that PPC will only have a chance of hitting that target if it's trending above $8.61 with strong upside volume flows.