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Balchem(BCPC) is engaged in the development, manufacture and marketing of specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical and medical sterilization industries. This stock is trading up 3.6% at $34.29 in recent trading.
Today's Volume: 116,000
Average Volume: 115,897
Volume % Change: 60%
From a technical perspective, BCPC is trending higher here as the stock has started to challenge its 200-day moving average of $32.24 with slightly above average volume. This move is coming after BCPC found some buying support right above its 50-day moving average of $32.24.
Traders should now look for long-biased trades once BCPC triggers its next major breakout trade. That trade will hit once BCPC takes out some near-term overhead resistance levels at $34.34 to $35.12 with high volume. Look for a sustained move or close above those levels with volume that's near or above 115,897 shares. If that breakout triggers soon, then BCPC will have a great chance of trading up towards $37 to $39. Traders should key off BCPC's 50-day moving average of $32.24 for near-term support.
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.