Mine Safety Appliances
Wednesday's Volume: 426,000Average Volume: 96,560 Volume % Change: 296% Shares of MSA rose modestly on Wednesday after the company reported an earnings per share increase of 1.96% to 52 cents per share, versus EPS of 46 cents per share in the year-earlier quarter. Revenue decreased 2.65% to $296.7 million from the year-earlier quarter. From a technical perspective, MSA spiked higher here right off some near-term support at $44.97 with above-average volume. This move has pushed shares of MSA into breakout territory, since the stock took out some near-term overhead resistance at $46.34. That move has also pushed shares of MSA into new 52-week-high territory, since the stock hit an intraday high of $46.85. Traders should now look for long-biased trades in MSA as long as it's trending above $46.34 or its Wednesday low of $45.44, and then once it triggers a new breakout trade above $46.85 with volume that hits near or above 96,560 shares. If that breakout hits soon, then MSA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $50 to $52 in the near future.
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