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Citizens Republic Bancorp(CRBC) is a diversified banking and financial services company that is registered as a bank holding company. This stock is trading up 8.7% at $19.19 in recent trading.
Today's Volume: 849,000
Average Volume: 360,958
Volume % Change: 214%
Shares of CRBC are skyrocketing today after Bloomberg reported that the company has hired JPMorgan Chase as an adviser and is soliciting takeover bids from competitors.
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From a technical perspective, CRBC is soaring here right off some near-term support at $17.50 with monster volume. This move has now pushed CRBC into breakout territory, since the stock has cleared some near-term overhead resistance at $18.33.
Traders should now look for long-biased trades in CRBC as long as it's trending above $18.33 with strong upside volume flows. I would consider any upside volume day that registers near or above 360,958 shares as bullish. If we continue to see CRBC hold its breakout, then this stock could be setting up to head north of $20 in the near future.