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Sodastream(SODA - Get Report), along with its subsidiaries, is engaged in developing, manufacturing and marketing home beverage carbonation systems and related products. This stock is trading up 5.3% at $37.31 in recent trading.
Today's Volume: 1.4 million
Average Volume: 1.1 million
Volume % Change: 157%
Shares of SODA are ripping higher today after Monness Crespi maintained its buy rating on the stock with a $70 price target. In a research report, Monness Crespi writes, "The company has a strong balance sheet with $2.60 per share in net cash and, to date, management has executed exceptionally well. We believe the company will continue to beat estimates in 2012 and the stock will ultimately follow earnings higher."
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From a technical perspective, SODA is soaring back above its 200-day
moving average of $33.55 here with above-average volume. This move has also pushed SODA into breakout territory since the stock has taken out $36.09.
Traders should now watch for the
next major breakout trade to trigger. That trade will hit once SODA takes out some near-term overhead resistance at $37.95 to $38.80 with high volume. Traders should look for long-biased trades if SODA can maintain a move or close above those levels with volume that's near or above 1.1 million shares. If we get that action soon, look for SODA to hit $42 to $44 or possibly higher.