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Addus HomeCare (
ADUS) provides a range of home- and community-based services to older adults and younger disabled individuals in the U.S. This stock closed up 10.16% at $21.46 in Friday's trading session.
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From a technical perspective, ADUS ripped sharply higher here right above some near-term support at $18.58 and back above its 50-day moving average of $19.44 with above-average volume. This move also pushed shares of ADUS into breakout territory, since the stock took out some near-term overhead resistance at $20.94. Shares of ADUS are now starting to trend within range of triggering another major breakout trade. That trade will hit if ADUS manages to take out some resistance at $22 to its 52-week high at $23.71 with high volume.
Traders should now look for long-biased trades in ADUS as long as it's trending above $20.94 or its 50-day at $19.44 and then once it sustains a move or close above those breakout levels with volume that this near or above 184.047 shares. If that breakout triggers soon, then ADUS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $30 to $32.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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