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>>5 Stocks Warren Buffett Is Buying
From a technical perspective, PBT trended modestly higher here right above its 50-day moving average of $13.30 with above-average volume. This move pushed shares of PBT into breakout territory, since the stock took out some near-term overhead resistance at $13.77. Shares of PBT are now quickly moving within range of triggering another big breakout trade. That trade will hit if PBT manages to take out a key double top resistance zone at $14.07 with high volume.
Traders should now look for long-biased trades in PBT as long as it's trending above its 50-day at $13.30 and then once it sustains a move or close above that breakout level with volume that's near or above 102,792 shares. If that breakout hits soon, then PBT will set up to re-test or possibly take out its next major overhead resistance levels at $14.40 to $15.46. Any high-volume move above those levels will then put $17 to $18 into range for shares of PBT.
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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