Cloud Peak Energy

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Cloud Peak Energy ( CLD) is a producer of coal in the U.S. and in the Powder River Basin. This stock is trading up 10.6% at $21.05 in recent trading.

Today's Volume: 2.6 million

Average Volume: 781,305

Volume % Change: 388%

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From a technical perspective, CLD is ripping higher here right off some near-term support at $19.50 with above-average volume. This move has also pushed CLD into breakout territory, since the stock has started to move above some near-term overhead resistance at $20.55.

Traders should now look for long-biased trades in CLD as long as it's trending above $20.55 with strong upside volume flows. I would consider any upside volume day that registers near or above 781,305 shares as bullish. If CLD can maintain that trend, then this stock will set up to re-test or possibly take out its next significant overhead resistance level at $24 to $24.34. The probability of hitting those levels will increase once CLD takes out today's high of $22.31 with volume.

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