Today's Volume: 560,000
Average Volume: 225,844
Volume % Change: 141%
From a technical perspective, POOL is trending modestly higher here back above its 50-day moving average of $41.39 with high volume. This move is quickly pushing POOL within range of triggering a major breakout trade. That trade will hit once POOL manages to take out some near-term overhead resistance levels at $42.62 to $43.17 and then once it clears its 52-week high of $43.50 with high volume.
Traders should now look for long-biased trades in POOL as long as it's trending above its 50-day moving average of $41.39, and then once it sustains a move or close above those breakout levels with volume that hits near or above 225,844 shares. If that breakout triggers soon, then POOL will set up to enter new 52-week high territory once it clears $43.50, which is bullish technical price action. Some possible upside targets off that breakout are $45 to $47 in the near future.
Energy Company of Minas Gerais
(CIG - Get Report)
This company is engaged in generation, transmission and distribution of electricity. It generates electricity through 49 hydroelectric plants, four thermoelectric plants, and one wind farm. This stock is trading up 4.46% at $12.88 in recent trading.
Today's Volume: 9.56 million
Average Volume: 4.52 million
Volume % Change: 108%
From a technical perspective, CIG is gapping higher here right above its 50-day moving average of $11.87 with monster upside volume. This stock has been uptrending solidly for the last month and change, with shares moving higher from a low of $10.56 to its recent high of $13.06. During that move, shares of CIG have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed CIG within range of triggering a major breakout trade. That trade will hit once CIG clears some near-term overhead resistance at $13.08 with high volume.
Traders should now look for long-biased trades in CIG as long as it's trending above 12.33, and then once it sustains a move or close above $13.08 with volume that hits near or above 4.52 million shares. If that breakout triggers soon, then CIG will set up to re-test or possibly take out its next major overhead resistance level at $14.13. Any high-volume move above $14.13 will then give CIG a chance to re-fill some of its previous gap down zone from September that started around $17.