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Zhongpin(HOGS) is engaged in the meat and food processing and distribution business in the People's Republic of China. This stock is trading up 8.7% at $10.87 in recent trading.
Today's Volume: 372,000
Average Volume: 190,106
Volume % Change: 465%
technical perspective, HOGS is ripping to the upside with monster volume, and this stock has started to break out above some past overhead resistance at $10. This breakout could be setting up HOGS for a re-test and possible
breakout trade above its March high at $12.25.
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Traders should now look for long-biased trades as long as HOGS is trending above $10 and if it closes near its daily highs. At last check, HOGS has hit an intraday high of $11.02 and volume is well above its three-month average action of 190,106 shares.
On the flipside, I would avoid this stock if trends back below that key breakout level of $10 with heavy volume.