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Trading Higher on Heavy Volume are Shares of Eagle Materials on 1.2x Above-Average Volume (EXP)

Published on Tue, 03/05/2013 - 14:15
By Peter Chu

Eagle Materials's stock is up 4.0% to $70.13 on heavy trading volume. Today's volume of 967,000 shares tops the average 30-day volume of 784,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Eagle Materials Inc. manufactures and distributes cement, gypsum wallboard, recycled paperboard, and concrete and aggregates. The Company's products are used in the construction of homes, commercial and industrial buildings, and governmental buildings across the United States.

Eagle Materials (NYSE:EXP) defies analysts with a current price ($70.13) 3.6% above its average consensus price target of $67.60. Eagle Materials shares have support at the 50-day moving average (MA) of $63.45 and additional support at the 200-day MA of $48.09.

In the past 52 weeks, Eagle Materials share prices have been bracketed by a low of $29.64 and a high of $70.22 and are now at $70.13, 137% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.9%.

By Peter Chu
pchu@fnno.com

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