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Primoris Services (
PRIM) provides services including construction, fabrication, maintenance, replacement, water and wastewater and product engineering services. This stock closed up 3.4% at $25.85 in Monday's trading session.
>>5 Stocks Under $10 Set to Soar
From a technical perspective, PRIM ripped higher here with decent upside volume. This stock recently pulled back right below its 50-day moving average of $23.83 and found some buying interest. Since then, shares of PRIM have been uptrending strong, with the stock moving higher from its low of $22.95 to its intraday high of $26.12. During that move, shares of PRIM have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PRIM within range of triggering a near-term breakout trade. That trade will hit if PRIM manages to take out its 52-week high of $26.32 with high volume.
Traders should now look for long-biased trades in PRIM as long as it's trending above Monday's low of $24.70 and then once it sustains a move or close above $26.32 with volume that this near or above 203,092 shares. If that breakout hits soon, then PRIM 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.
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