Beacon Roofing Supply

Beacon Roofing Supply ( BECN) is a distributor of residential and non-residential roofing materials in the U.S. and Canada. This stock closed up 1.8% at $34.89 in Wednesday's trading session.

Wednesday's Volume: 1.45 million
Three-Month Average Volume: 469,545
Volume % Change: 186%

>>5 Stocks Set to Soar on Bullish Earnings

From a technical perspective, BECN trended modestly higher here right above its recent low of $32.97 with above-average volume. This stock recently gapped down sharply from $37 to that low of $32.97 with heavy downside volume. Shares of BECN have now started to rebound off that low and move within range of triggering a near-term breakout trade. That trade will hit if BECN manages to take out its gap down day high of $35.34 with high volume.

Traders should now look for long-biased trades in BECN as long as it's trending above Wednesday's low of $33.82 or above that gap low of $32.97 and then once it sustains a move or close above $35.34 with volume that's near or above 469,545 shares. If that breakout hits soon, then BECN will set up to re-fill some of its previous gap down zone that started at $37. Any high-volume move above $37.50 to its 200-day at $37.78 will then give BECN a chance to tag $39 to $40.

Bitauto

Bitauto ( BITA) is a provider of Internet content and marketing services for China's automotive industry. This stock closed up 7% at $19.22 in Wednesday's trading session.

Wednesday's Volume: 1.38 million
Three-Month Average Volume: 369,677
Volume % Change: 376%

>>4 Stocks Under $10 to Watch for Breakouts

From a technical perspective, BITA soared sharply higher here into new all-time high territory with monster upside volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $12.85 to its intraday high of $19.60. During that uptrend, shares of BITA have been consistently making higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in BITA as long as it's trending above Wednesday's low of $17.67 or above $17 and then once it sustains a move or close above its new all-time high at $19.60 with volume that's near or above 369,677 shares. If that breakout hits soon, then BITA will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $25 to $27.

If you liked this article you might like

Novartis AG, Sirius XM Radio, Coupa Software: 'Mad Money' Lightning Round

August's Inexplicable Selloffs Are Here: Cramer's 'Mad Money' Recap (8/17/17)

Electronic Arts, Activision Blizzard and Take-Two Interactive: 'Mad Money' Lightning Round

Don't Let Stock Picking Scare You: Cramer's 'Mad Money' Recap (Wednesday 7/19/17)

Mattel, Mazor, Raytheon: 'Mad Money' Lightning Round (7/10/17)