Huntington Ingalls Industries

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Huntington Ingalls Industries ( HII) is engaged in building, overhauling and repairing ships, mainly for the U.S. Navy and the U.S. Coast Guard. This stock closed up 1% at $64.11 in Friday's trading session.

Friday's Volume: 297,000
Three-Month Average Volume: 211,441
Volume % Change: 50%

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From a technical perspective, HII trended modestly higher here right above some near-term support levels at $62.13 to $61.74 with above-average volume. This move also pushed shares of HII into breakout territory, since the stock took out and closed above its previous 52-week high at $63.99.

Traders should now look for long-biased trades in HII as long as it's trending above some key near-term support at $62.13 or above $61.74 and then once it sustains a move or close above Friday's high of $64.14 with volume that hits near or above 211,441 shares. If we get that move soon, then HII will set up to enter new 52-week -igh territory, which is bullish technical price action. Some possible upside targets off that move are $70 to $72.

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