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Bio-Reference Laboratories(BRLI) is engaged in providing laboratory testing services to customers in the greater New York metropolitan area, as well as to customers in other states. This stock is trading up 3.3% at $30.80 in recent trading.
Today's Volume: 281,000
Average Volume: 234,122
Volume % Change: 160%
From a technical perspective, BRLI is moving notably higher here with above-average volume. This move has started to push BRLI into breakout territory, since it's taken out some past overhead resistance at $30.15. At last check, BRLI has hit an intraday high of $31 and volume is well above its three-month average action of 234,122 shares.
Traders should now look for long-biased trades in BRLI as long as it's trending above today's low of $29.84, and then once it sustains a move or close above $30.15 with volume that's near or above 234,122 shares. If we continue to see BRLI maintain that trend, then this stock has an excellent chance to tag $35 to $40 in the near future.
Keep in mind that BRLI is now trading in new 52-week-high territory, which is bullish technical price action.
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.