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Shares of CLARCOR Are Moving Higher on 1.3x Above-Average Volume (CLC)

Published on Thu, 01/17/2013 - 14:13
By Peter Chu

CLARCOR shares are trading on heavy volume today, having risen 4.6% to $49.34. Approximately 373,000 shares have changed hands today vs. average 30-day volume of 281,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

CLARCOR has overhead space with shares priced $49.34, or 9.5% below the average consensus analyst price target of $54.50. The stock should find initial support at its 200-day moving average (MA) of $47.40 and further support at its 50-day MA of $46.26.

CLARCOR Inc. manufactures and distributes filtration products for engine/mobile and industrial/environmental products, as well as consumer packaging products. The Company makes filters for a variety of automotive and heavy duty applications. CLARCOR's packaging products include a variety of custom styled containers and packaging items.

CLARCOR share prices have moved between a 52-week high of $54.22 and a 52-week low of $42.75 and are now trading 15% above that low price at $49.34 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

By Peter Chu
pchu@fnno.com