If that breakout hits soon, then ENH will set up to re-test or possibly take out its next major overhead resistance levels at $46 to $48.
(BCPC - Get Report)
This company is engaged in the development, manufacture and marketing of performance ingredients and products for the food, nutritional, feed, pharmaceutical and medical sterilization industries. This stock is trading up 5.3% at $38.06 in recent trading.
Today's Volume: 132,000
Average Volume: 78,210
Volume % Change: 174%
From a technical perspective, BCPC is ripping higher here right off some near-term support at $36 with above-average volume. This stock has been uptrending strongly for the last two months, with shares moving higher from a low of $31.04 to its intraday high of $38.07. During that move, shares of BCPC have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed BCPC within range of triggering a major breakout trade. That trade will hit once BCPC takes out some near-term overhead resistance at $38.21 with high volume.
Traders should now look for long-biased trades in BCPC as long as it's trending above some key support at $35, and then once it sustains a move or close above $38.21 with volume that hits near or above 78,210 shares. If that breakout hits soon, then BCPC will set up to re-test or possibly take out its next major overhead resistance levels at $42 to $42.58.
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.
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