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Consol Energy(CNX - Get Report) is a multi-fuel energy producer and energy services provider that mainly serves the electric power generation industry in the U.S. This stock is trading up 4% at $33.03 in recent trading.
Today's Volume: 3.62 million
Average Volume: 2.54 million
Volume % Change: 52%
>>5 Stock Charts You Need to See
From a technical perspective, CNX is ripping higher here back above its 50-day moving average of $32.02 with above-average volume. This move has started to push shares of CNX into breakout territory, since the stock has taken out some near-term overhead resistance at $32.99. At last check, CNX has hit an intraday high of $33.18 and volume is well above its three-month average action of 2.54 million shares.
Traders should now look for long-biased trades in CNX as long as it's trending above $32 to $32.99 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 2.45 million shares as bullish. If CNX can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $35.27 to $35.50. Any high-volume move above those levels will then put $37 to $37.12 into range for shares of CNX.
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.