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Teck Resources(TCK - Get Report) is engaged in exploring for, developing and producing natural resources. Teck's activities are organized into business units focused on copper, coal, zinc and energy. This stock is trading up 8.5% at $29.82 in recent trading.
Today's Volume: 2.6 million
Average Volume: 2.3 million
Volume % Change: 116%
From a technical perspective, TCK is gapping up huge here with above average volume, and it's starting to take out its 50-day moving average of $29.28. This move is quickly pushing TCK within range of triggering a major breakout trade. That trade will hit once TCK takes out some near-term overhead resistance at $31 to $31.36 with high volume.
Traders should now look for long-biased trades in TCK 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 2.3 million shares. If that breakout triggers soon, then TCK has a great chance of re-testing or possibly taking out its next major overhead resistance levels at $33.07 to $33.53, or possibly even its 200-day moving average of $33.85.