Trading Higher on Heavy Volume are Shares of Diamond Foods on 1.3x Above-Average Volume (DMND)

Published on Mon, 04/29/2013 - 13:15
By Adrienne Chilton in Unusual volume, DMND, diamond foods, nasdaq:dmnd, unusual volume

Diamond Foods's stock is up 3.9% to $15.75 on heavy trading volume. Today's volume of 352,000 shares tops the average 30-day volume of 278,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Diamond Foods, Inc. is a branded food company specializing in processing, marketing and distributing culinary, snack, in-shell and ingredient nuts.

In the past 52 weeks, shares of Diamond Foods have traded between a low of $12.85 and a high of $96.13 and are now at $15.75, which is 23% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.6%.

Diamond Foods (NASDAQ:DMND) is currently priced 19.0% above its average consensus analyst price target of $12.75. Diamond Foods shares should first meet resistance at the 50-day moving average (MA) of $15.82 and find additional resistance at the 200-day MA of $16.61.

By Adrienne Chilton
achilton@fnno.com

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