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Patrick Industries(PATK) is a manufacturer and distributor of building products and materials to the recreational vehicle and manufactured housing industries. This stock is trading up 2.5% at $14.60 in recent trading.
Today's Volume: 189,000
Average Volume: 175,990
Volume % Change: 68%
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technical perspective, PATK is moving notably higher here with above average volume. This move has pushed the stock into
breakout territory, since PATK has moved above some near-term overhead resistance at $14.30 to $14.47. At last check, PATK has hit an intraday high of $14.85 and volume is above its three-month average action of 175,990 shares.
Traders should now look for long-biased trades as long as PATK is trending above $14.30 to $14.85 with strong upside volume flows. I would consider any upside volume day that registers near or above 175,990 shares as bullish. If we continue to see that action, then PATK could possibly hit $20 in the near future.