Titan Machinery (TITN) owns and operates a network of agricultural and construction equipment stores in the U.S. and Europe. This stock is trading up 3.2% at $20.96 in recent trading.
Today's Volume: 1 millionAverage Volume: 643,470 Volume % Change: 181% Shares of TITN are moving notably higher today after Standpoint Research initiated coverage on the stock with a buy rating and $28 price target. >>5 Rocket Stocks Ready for Blastoff From a technical perspective, TITN is moving higher here with above-average volume. This stock has been hammered by the sellers during the last two months, with shares falling from $32.65 to its recent low of $19.07. During that move, shares of TITN have consistently made lower highs and lower lows, which is bearish technical price action. That said, TITN has now pushed into oversold territory, since its current relative strength index rating is around 30. Traders should now look for long-biased trades in TITN as long as it's trending above its recent gap down day high of $21.71 with strong upside volume flows. I would consider any upside volume day that registers near or above 643,470 shares. On the flip side, I would avoid TITN or look for short-biased trades if it fails to get into that gap, and then drops back below its recent low of $19.07 with heavy volume. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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