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B&G Foods(BGS - Get Report) manufactures, sells and distributes shelf-stable food and household products, including taco shells, tortillas, refried beans, taco sauces, seasonings, dinner kits, peppers, salsas and related food products. This stock is trading up 6.6% at $29.98 in recent trading.
Today's Volume: 823,000
Average Volume: 345,000
Volume % Change: 289%
>>5 Consumer Stocks Ready to Push Higher
Shares of BGS are ripping higher here after the company said first-quarter net income jumped 17% on improved sales, including significant gains from its New York Style and Old London brands.
From a technical perspective, BGS is gapping sharply higher here back above both its 200-day at $28.97 and its 50-day at $29.66 with high volume. This move is quickly pushing shares of BGS within range of triggering a near-term breakout trade. That trade will hit if BGS manages to take out some near-term overhead resistance at $30.67 with high volume.
Traders should now look for long-biased trades in BGS as long as it's trending above its 50-day at $29.66 or its 200-day at $28.97, and then once it sustains a move or close above $30.67 with volume that hits near or above 345,000 shares. If that breakout triggers soon, then BGS will set up to re-fill some of its previous gap down zone from February that started at $32.82.
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