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

Published on Thu, 06/11/2015 - 13:25
By Mallory Stone in Unusual volume, DMND, diamond foods, nasdaq:dmnd, unusual volume

Shares of Diamond Foods are trading up 3.8% to $31.91 today on above average volume. About 392,000 shares have been traded today, as compared to the 30-day average volume of 283,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Diamond Foods (NASDAQ:DMND) is currently priced 1.5% above its average consensus analyst price target of $31.43. The stock should find initial support at its 50-day moving average (MA) of $29.97 and further support at its 200-day MA of $28.75.

Diamond Foods share prices have moved between a 52-week high of $33.72 and a 52-week low of $24.57 and are now trading 30% above that low price at $31.91 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

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

By Mallory Stone
mstone@fnno.com

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