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Carpenter Technology (
(CRS)) is engaged in the manufacturing, fabrication and distribution of specialty metals. This stock is trading up 2.4% at $49.53 in recent trading.
Today's Volume: 648,000
Average Volume: 407,590 Volume % Change: 217%
From a technical perspective, CRS is bouncing here right off its 50-day moving average of $48.15 with above average volume. This move is quickly pushing CRS within range of triggering a major breakout trade. That trade will hit once CRS takes out its 200-day moving average of $50.13, and then some more overhead resistance at $51.78 with high volume.
Traders should now look for long-biased trades in CRS as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 407,590 shares. If that breakout triggers soon, then CRS has a great chance of re-testing or possibly taking out its next major overhead resistance levels at $55 to $57.