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Zhongpin(HOGS) is engaged in the meat and food processing and distribution business in the People's Republic of China. This stock is trading up 8% at $11.09 in recent trading.
Today's Volume: 447,000
Average Volume: 130,262
Volume % Change: 631%
technical perspective, HOGS is soaring here right off its 50-day moving average of $10.19 with above-average volume. This move has started to push HOGS into breakout territory, since it's taken out some near-term overhead resistance levels at $10.47 to $10.61. Traders should now watch for the next major breakout trade to trigger for HOGS. That trade will hit once HOGS manages to take out key overhead resistance levels at $11.02 to $11.60 with high volume. At last check, HOGS has hit an intraday high of $11.23 and volume is well above its three-month average action of 130,262 shares.
Traders should now look for long-biased trades in HOGS as long as it's trending above $10.61, and then once it sustains a move or close above those breakout levels with volume that's near or above 130,262 shares. If that breakout triggers soon, then HOGS will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $12.25 to $12.50.