Diamond Foods (DMND), a packaged food company, specializes in processing, marketing and distributing snack products and culinary, in-shell and ingredient nuts. This stock is trading up 5% at $20.78 in recent trading.
Today's Volume: 379,000Average Volume: 343,522 Volume % Change: 101% >>5 Oversold Stocks Ready to Bounce From a technical perspective, DMND is gapping up sharply here with above-average volume. This move is quickly pushing DMND within range of triggering a major breakout trade. That trade will hit once DMND takes out some overhead resistance levels at $20.87 to $21.12 with high volume. Traders should now look for long-biased traders in DMND as long as is trending above $19.72 and then once it sustains a move or close over $20.87 to $21.12 with volume that's near or above 343,522 shares. If that breakout triggers soon, then DMND will have a great chance of re-testing or possibly taking out its 200-day moving average of $23.48. On the flip side, I would avoid DMND or look for short-biased trades if it fails to trigger that breakout, and then drops below some major near-term support at $18.51 with heavy volume.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV