Traders should now look for long-biased trades in BKS as long as it's trending above its 200-day at $14.54, and then once it sustains a move or close above $16 with volume that hits near or above 1.23 million shares. If that breakout triggers soon, then BKS will set up to re-test or possibly take out its next major overhead resistance levels at $17.27 to $17.68. Any high-volume move above $17.68 will then put $19 to $20 into focus for shares of BKS.
Resources Connection (RECN)
This is a professional services firm that provides clients with experienced professionals specializing in finance, accounting, risk management and internal audit, corporate advisory, strategic communications. This stock is trading up 6.2% at $12.12 in recent trading.
Today's Volume: 250,000Average Volume: 241,259 Volume % Change: 63% From a technical perspective, RECN is soaring higher here back above its 50-day moving average of $11.86 and right below its 200-day moving average of $12.16 with above-average volume. This move is quickly pushing RECN within range of triggering a near-term breakout trade. That trade will hit if RECN manages to take out some near-term overhead resistance at $12.16 to $12.49 with high volume. At last check, RECN has hit an intraday high of $12.32 and volume is a bit above its three-month average action of 241.259 shares. Traders should now look for long-biased trades in RECN as long as it's trending above its 50-day at $11.86, and then once it sustains a move or close above those breakout levels with volume that hits near or above 241,259 shares. If that breakout triggers soon, then RECN will set up to re-test or possibly take out its next major overhead resistance levels at $13.25 to $13.61. Any high-volume move above $13.61 will then put $14.28 into focus for shares of RECN. 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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