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Shares of PQ are trending higher here after the company delivered a profit that beat Wall Street expectations but came in below the Street's revenue expectations. Revenue fell 0.11% to $36 million from the year-earlier period.
>>5 Stocks Poised for Breakouts
From a technical perspective, PQ is soaring higher here back above its 50-day moving average at $4.25 with lighter-than-average volume. This stock has been trending sideways for the last month and change, with shares moving between $3.93 on the downside and $4.79 on the upside. This move is quickly pushing shares of PQ within distance of a breakout trade above the upper-end of its recent range. That breakout will hit if PQ manages to take out some near-term overhead resistance levels at $4.54 to $4.79 with high volume.
Traders should now look for long-biased trades in PQ as long as it's trending above its 50-day at $4.25 and then once it sustains a move or close above those breakout levels with volume that hits near or above 433,633 shares. If that breakout triggers soon, then PQ will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $5.29 to $5.50. Any high-volume move above those levels will then put $6 to $6.25 into range for shares of PQ.
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