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>>5 Stocks With Big Insider Buying
From a technical perspective, CSTE bounced sharply higher here right above some near-term support at $40.04 with decent upside volume. This stock has been trending sideways for the last few weeks, with shares moving between $44.70 on the upside and $40.04 on the downside. Prior to this sideways action, shares of CSTE were uptrending strong for the last four months, with the stock exploding higher from its low of $21.60 to its all-time high at $44.70. Shares of CSTE now look ready to trigger a near-term breakout trade above the upper end of its recent sideways trading price action. That breakout will hit if CSTE manages to clear $44 to its all-time high at $44.70 with high volume.
Traders should now look for long-biased trades in CSTE as long as it's trending above $40.04 and then once it sustains a move or close above those breakout levels with volume that's near or above 270,314 shares. If that breakout hits soon, then CSTE will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $50 to $60.
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.