Patrick Industries

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Patrick Industries ( PATK) is a manufacturer and distributor of building products and materials to the recreational vehicle and manufactured housing industries. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, household furniture, fixtures and commercial furnishings, marine, and other industrial markets. The stock is trading up 6.9% at $12.10 in recent trading.

Today's Volume: 121,000

Average Volume: 66,554

Volume % Change: 106%

From a technical perspective, PATK is soaring higher today on above-average volume, and the stock is now trading within range of triggering a near-term breakout trade. That trade will hit once PATK can sustain a high-volume move and close above some near-term overhead resistance at $12.15. If we get that action today or soon, look for PATK to continue its uptrend towards $15 in the near future.

Traders should look for long-biased trades if PATK is trending over $12.15 and simply avoid this stock if it trends below some near-term support at $11.50 to $11.42.

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