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Rentech Nitrogen Partners LP(RNF - Get Report) is a provider of clean energy solutions and nitrogen fertilizer, to own, operate and grow its nitrogen fertilizer business. This stock is trading up 4.3% at $30.28 in recent trading.
Today's Volume: 675,000
Average Volume: 341,022
Volume % Change: 281%.
From a technical perspective, RNF is ripping to the upside here with heavy volume. This move has already pushed RNF into
breakout territory, since the stock has moved above some near-term overhead resistance at $29.49.
Traders should now look for the next major breakout trade to trigger for RNF if it can manage to take out its all-time high of $30.39 with high-volume. At last check, RNF has hit an intraday high of $30.68 and volume is well above its three-month average action of 341,022 shares. Traders should now look for long-biased trades if RNF can sustain a move or close above $30.39 to $30.68 with volume that's near or above 341,022 shares. If we get that action soon, then RNF could easily trade up towards $35 or higher in the near future.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.