Schweitzer-Mauduit International (SWM - Get Report) is a multinational producer of premium specialty papers and a supplier of fine papers to the tobacco industry. This stock closed up 1.3% at $37.13 on Wednesday.
Wednesday's Volume: 480,000Average Volume: 178,694 Volume % Change: 179% From a technical perspective, SWM bounced higher here right off some near-term support at $36 to $35.87 with above-average volume. This move is quickly pushing shares of SWM within range of triggering a near-term breakout trade. That trade will hit if SWM manages to take out its recent gap down day high of $38.24 with high volume. That gap down occurred a few trading sessions ago when shares of SWM plunged from over $40 to $35.87 with heavy downside volume. Traders should now look for long-biased trades in SWM as long as it's trending above Wednesday's low of $36.56 or that that key near-term support at $35.87, and then once it sustains a move or close above $38.24 with volume that hits near or above 178,694 shares. If that breakout triggers soon, then SWM will set up to re-fill some of its previous gap down zone that started above $40. Some possible upside targets if SWM gets into that gap are its 50-day at $39.40 or even above $40.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts