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Trex(TREX - Get Report) is a manufacturer of wood-alternative decking, railing, fencing and trim products, which are marketed under the brand name Trex. This stock is trading up 5.9% at $37.02 in recent trading.
Today's Volume: 589,000
Average Volume: 211,148
Volume % Change: 296%
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From a technical perspective, TREX is ripping higher here right off some near-term support at $34 with above-average volume. This move has started to push TREX into breakout and 52-week high territory, since the stock has cleared some near-term overhead resistance at $35.45.
Traders should now look for long-biased trades in TREX as long as it's trending above $35.45 with strong upside volume flows. Look for a sustained move or close above $35.45 with volume that hits near or above 211,148 shares. If TREX can maintain that trend, then this stock will set up to hit $40 or higher in the near future.