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Lufkin Industries(LUFK) is a global supplier of artificial lift products, technology, services and solutions, including automated control equipment and analytical products for artificial lift equipment, to the oil and gas industry. This stock is trading up 3.5% at $57.82 in recent trading.
Today's Volume: 408,000
Average Volume: 429,586
Volume % Change: 59%
From a technical perspective, LUFK is moving sharply to the upside here with decent volume, and this stock has started to take out its 50-day moving average of $56.43.
Traders should continue to look for long-biased trades as long as LUFK is trending above its 50-day with strong upside volume flows. I would consider any upside volume day that registers near or above 429,586 shares as bullish. If LUFK can hold this trend above its 50-day, then this stock could continue to spike higher and possibly take out its next significant overhead resistance levels at $60.20 to $61.87. If those levels are taken out with volume, then LUFK could re-test its 200-day moving average of $67.03.