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Central European Distribution(CEDC) operates primarily in the alcohol beverage industry. CEDC is a producer of vodka and is Central and Eastern Europe's integrated spirit beverages business. This stock is trading up 4.1% at $3.01 in recent trading.
Today's Range: $2.89-$3.11
52-Week Range: $2.49-$7.50
Three-Month Average Volume: 878,734
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From a technical perspective, CEDC is moving higher here with decent volume. This stock recently formed a triple bottom at $2.52, $2.49 and $2.51. Following that bottom, shares of CEDC are now challenging its 50-day moving average of $2.95, and its testing some near-term overhead resistance at $3.05. At last check, CEDC has hit an intraday high of $3.11 and volume is tracking about 100,000 shares below its three-month average volume.
Traders should now look for long-biased trades in CEDC if it can hold today's low of $2.89, and then trigger a breakout above some near-term overhead resistance at $3.27 with high volume. Look for a sustained move or close above $3.27 with volume that hits near or above 878,734 shares. If that breakout triggers soon, then CEDC will have a great chance of re-testing or possibly taking out its 200-day moving average of $4.08.