Beacon Roofing Supply
Beacon Roofing Supply ( BECN) is a distributor of residential and non-residential roofing materials in the U.S. and Canada. This stock closed up 1.8% at $34.89 in Wednesday's trading session.
Wednesday's Volume: 1.45 million
Three-Month Average Volume: 469,545
Volume % Change: 186%
Three-Month Average Volume: 369,677
Volume % Change: 376% >>4 Stocks Under $10 to Watch for Breakouts From a technical perspective, BITA soared sharply higher here into new all-time high territory with monster upside volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $12.85 to its intraday high of $19.60. During that uptrend, shares of BITA have been consistently making higher lows and higher highs, which is bullish technical price action. Traders should now look for long-biased trades in BITA as long as it's trending above Wednesday's low of $17.67 or above $17 and then once it sustains a move or close above its new all-time high at $19.60 with volume that's near or above 369,677 shares. If that breakout hits soon, then BITA will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $25 to $27.
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