From a technical perspective, BXC is currently trending above its 200-day moving average and below its 50-day moving average, which is neutral trendwise. This stock has been downtrending for the last three months, with shares moving lower from its high of $3.48 to its recent low of $2.31 a share. During that move, shares of BXC have been mostly making lower highs and lower lows, which is bearish technical price action. That said, shares of BXC have started to bounce off that $2.31 low and it's quickly moving within range of triggering a near-term breakout trade above a key downtrend line.
Traders should now look for long-biased trades in BXC as long as it's trending above its 200-day at $2.51 and then once it triggers a break out above its 50-day at $2.88 a share and then above some near-term resistance at $3.03 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 171,038 shares. If that breakout triggers soon, then BXC will set up to re-test or possibly take out its next major overhead resistance levels at $3.37 to $3.48 a share. Any high-volume move above those levels will then put $4 to $4.35 into range for shares of BXC.
One more stocks to consider with some big insider buying is consumer products player Spectrum Brands (SPB - Get Report), which has a market positions in six product categories: consumer batteries, pet supplies, electric shaving and grooming, electric personal care, portable lighting and home and garden control products. Insiders are buying this stock notable strength, since shares are up 27% so far in 2013.Spectrum Brands has a market cap of $2.97 billion and an enterprise value of $6.1 billion. This stock trades at a fair valuation, with a trailing price-to-earnings of 138.26 and a forward price-to-earnings of 14.35. Its estimated growth rate for this year is 47.4%, and for next year it's pegged at 18.5%. This is not a cash-rich company, since the total cash position on its balance sheet is $70.92 million and its total debt is a whopping $3.22 billion.
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