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IberiaBank(IBKC - Get Report) offers a range of commercial, consumer, mortgage and private banking products and services and cash management, deposit and annuity products and investment brokerage services. This stock is trading up 7.9% at $48.76 in recent trading.
Today's Volume: 550,000
Average Volume: 173,089
Volume % Change: 674%
This stock is ripping to the upside today after the company reported net income of $21 million and fully diluted earnings per share of 73 cents per share, up 71% versus the second quarter of 2012.
>>5 Big Trades From the Financial Sector
From a technical perspective, IBKC is gapping sharply higher here back above its 50-day at $46.81, and right into its 200-day at $49.34 with above-average volume. This move is quickly pushing IBKC within range of triggering a near-term breakout trade. That trade will hit once IBKC manages to take out some near-term overhead resistance at $49.57 with high volume.
Traders should now look for long-biased trades in IBKC as long as its trending above its 50-day, and then once it sustains a move or close above $49.34 to $49.57 with volume that hits near or above 173,089 shares. If that breakout triggers soon, then look for IBKC to re-test or possibly take out its next major overhead resistance levels at $51.50 to $51.87, and possibly even $53.21.