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Tesoro Logistics(TLLP - Get Report) owns, operates, develops and acquires crude oil and refined products logistics assets. This stock is trading up 2% at $43.00 in recent trading.
Today's Volume: 57,000
Average Volume: 70,627
Volume % Change: 160%
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From a technical perspective, TLLP is bouncing modestly here right off some near-term support at $42 with decent volume. This move is quickly pushing TLLP within range of triggering a breakout trade. That trade will hit once TLLP takes out some near-term overhead resistance at $43.98 with high volume.
Traders should now look for long-biased trades in TLLP if $42 holds, and then if we get a sustained move or close above $43.98 with volume that's near or above 70,627 shares. If that breakout triggers soon, then look for TLLP to head north of $45.
Keep in mind that any move above $43.98 will push TLLP into all-time high territory, which is bullish technical price action.