Delek US Holdings
Delek US Holdings (DK) is an integrated energy business focused on petroleum refining, the wholesale distribution of refined products and convenience store retailing. This stock is trading up 4.5% at $24.04 in recent trading.
Today's Volume: 1.2 millionAverage Volume: 348,486 Volume % Change: 405% From a technical perspective, DK is bouncing sharply here right off some near-term support at $23 with heavy volume. This move is following a recent selloff in DK from overbought conditions that took the stock from $26.40 to just under $23. Traders should now look for short-term long-biased trades in DK if this stock can manage to take out some near-term overhead resistance at $24.50 with high volume. Look for a sustained move or close above $24.50 with volume that's near or above 348,486 shares. If that breakout triggers soon, then look for DK to re-test or possibly take out that recent high of $26.40. On the flipside, I would avoid this stock or look for short-term short-biased trades if it fails to trigger that breakout, and then moves back below some near-term support at $22.76 with high volume.