Impac Mortgage (IMH)
This company focuses on mortgage and real estate services including primarily mortgage lending activities and portfolio loss mitigation and real estate service activities, and the management of the long-term mortgage portfolio. This stock is trading up 14.6% at $14.13 in recent trading.
Today's Volume: 206,000
Average Volume: 218,802Volume % Change: 65% From a technical perspective, IMH is bouncing strongly here right off some near-term support at $12 with decent volume. This move has also started to push IMH into breakout territory, since the stock is flirting with some near-term overhead resistance at $14. At last check, IMH has hit an intraday high of $14.34 and volume is just a bit below its three-month average action of 218,802 shares. Traders should now look for long-biased trades in IMH as long as it's trending near or above that breakout level of $14 with strong upside volume flows. I would consider any upside volume day that registers near or above 218,802 shares as bullish. If IMH can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $16.20 to $18. Sanderson Farms (SAFM) This company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken products. This stock is trading up 2.5% at $49.20 in recent trading. Today's Volume: 248,000 Average Volume: 241,053 Volume % Change: 93% From a technical perspective, SAFM is bouncing higher here right above its 50-day moving average of $45.45 with above-average volume. This move has also pushed SAFM into breakout territory, since the stock is trending above some near-term overhead resistance levels at $47.94 to $48.82. At last check, SAFM has hit an intraday high of $49.38 and volume is just starting to surpass its three-month average volume of 241,053 shares. Traders should now look for long-biased trades in SAFM as long as it's trending above those breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above 241,053 shares as bullish. If SAFM can maintain this trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $52 to $54.
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