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Healthcare Services Group(HCSG - Get Report) provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the U.S. This stock is trading up 6.2% at $20.85 in recent trading.
Today's Volume: 493,000
Average Volume: 366,998
Volume % Change: 185%
Shares of HCSG are ripping higher today after the company reported second-quarter earnings that rose 15% as they posted strong revenue growth.
>>5 Hated Stocks Set to Soar on Earnings
From a technical perspective, HCSG is bouncing hard here right off its 50-day
moving average of $19.76 with strong volume. This move has also pushed HCSG into near-term
breakout territory, since the stock has taken out some overhead resistance at $20.55.
Traders should now continue to look for long-biased trades as long as HCSG is trending above $20.55 with strong upside volume flows. I would consider any upside volume day that registers near or above 366,998 shares as bullish. If we continue to see HCSG hold that trend, then this stock has a great chance of re-testing and possibly taking out its next significant overhead
resistance levels at $21.74 to $21.91.