(CL - Get Report)
is a consumer products company whose products are marketed in over 200 countries and territories worldwide. This stock is trading up 1.2% at $104.97 in recent trading.
Today's Volume: 1.5 million
Average Volume: 1.8 million
Volume % Change: 50%
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From a technical perspective, CL is moving modestly higher here with decent volume. This move has started to push CL within range of its 50-day moving average of $105.15. At last check, CL has hit an intraday high of $105.47 and volume is very close to eclipsing its three-month average action of 1.8 million shares.
Traders should now look for long-biased traders in CL as long as it's trending close to or above its 50-day moving average of $105.15 with strong upside volume flows. I would consider any upside volume day that registers near or above 1,756,190 shares as bullish. If CL can hold a trend above its 50-day, then it will have a great chance of re-testing or taking out its next major overhead resistance levels at $108 to $109.84.
On the flip side, I would avoid CL or look for short-biased trades if it fails to hold a trend above its 50-day, and then takes out some major near-term support at $102.50 with strong 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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