Bio-Rad Laboratories (BIO - Get Report) manufactures and supplies products and systems used to separate complex chemical and biological materials, and to identify, analyze, and purify their components for life science research, healthcare, analytical chemistry, and other markets. This stock closed up 0.44% to $128.48 in Wednesday's trading session.
Wednesday's Volume: 447,000
Three-Month Average Volume: 89,373
Volume % Change: 401%
From a technical perspective, BIO trended modestly higher here right off some near-term support at $128 with strong upside volume. This move is starting to push shares of BIO within range of triggering a near-term breakout trade. That trade will hit if BIO manages to take out some near-term overhead resistance levels at $130 to $131 and then once it takes out its 52-week high at $133 with high volume.
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Traders should now look for long-biased trades in BIO as long as it's trending above some near-term support at $127.49 or above $125 and then once it sustains a move or close above those breakout levels with volume that hits near or above 89,373 shares. If that breakout hits soon, then BIO will set up to enter new 52-week-high territory above $133, which is bullish technical price action. Some possible upside targets off that breakout are $140 to $150.