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Pike Electric(PIKE) is a provider of energy solutions for investor-owned, municipal and co-operative utilities in the U.S. This stock is trading up 5% at $14.69 in recent trading.
Today's Volume: 186,000
Average Volume: 286,121
Volume % Change: 50%
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From a technical perspective, PIKE is trending higher here right above some near-term support at $13.75 with decent upside volume. This move has started to push shares of PIKE into breakout territory, since the stock has taken out some near-term overhead resistance at $14.50. At last check, PIKE has hit an intraday high of $14.73 and volume is tracking about 100,000 shares below its three-month average of 286,121 a share. This move is quickly pushing PIKE within range of triggering another major breakout trade. That trade will hit if PIKE manages to clear its 52-week high at $15.21 with high volume.
Traders should now look for long-biased trades in PIKE as long as it's trending above today's low of $14.28, and then once it sustains a move or close above $14.50 to $15.21 with volume that hits near or above 286,121 shares. If that breakout triggers soon, then PIKE will set up to enter new 52-week high territory above $15.21, which is bullish technical price action. Some possible upside targets off that breakout are $17 to $18.