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Trex(TREX) manufactures and distributes wood/plastic composite products, as well as related accessories, primarily for residential and commercial decking and railing applications. This stock is trading up 2.6% at $30.81 in recent trading.
Today's Volume: 290,000
Average Volume: 228,649
Volume % Change: 171%
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From a technical perspective, TREX is moving modestly higher here with above average volume, and it's starting to push into breakout territory above some near-term overhead resistance at $30.06. This stock has recently spiked big from a low of $24.51 to today's intraday high of $31.06.
Traders should now look for long-biased trades in TREX as long as it's trending above its 50-day moving average of $28.88 with strong upside volume flows. I would consider any upside volume day that registers near or above 228,649 shares as bullish. If TREX can hold its trend above $28.88, and more importantly above $30.06, then this stock will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $31.66 to $32.46.