Symmetry Medical (SMA) is a medical device solutions company, including surgical instruments, orthopedic implants, and sterilization cases and trays. This stock is trading up 14.6% at $8.61 in recent trading.
Today's Range: $7.74-$8.8452-Week Range: $6.41-$9.68 Volume: 203,000 Three-Month Average Volume: 193,755 Shares of SMA are soaring today after the company reported earnings per share of 14 cents for the quarter, topping Wall Street estimates of 13 cents per share. The company's revenue for the quarter was up 8% on a year-over-year basis. From a technical perspective, SMA is skyrocketing higher here back above both its 200-day at $7.76 and its 50-day at $8.06 with above average volume. This move has also pushed SMA within range of triggering a major breakout trade. That trade will hit once SMA takes out some near-term overhead resistance levels at $8.56 to $8.78 with high volume. At last check, SMA has hit an intraday high of $8.65 and volume has just stated to eclipse its three-month average action of 193,755 shares. Traders should now look for long-biased trades in SMA as long as it's trending above its 50-day at $8.06, and then once it clears $8.56 to $8.78 with high volume. Look for a sustained move or close above those levels with volume that's near or above 193,755 shares. If we get that action soon, then look for SMA to possibly re-test and take out its next major overhead resistance levels at $9.49 to $10.09.
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