TPC Group(TPCG) is a producer of value-added products derived from petrochemical raw materials, such as four-carbon hydrocarbons. The stock is trading up 11% at $22.08 in recent trading.
Today's Volume: 432,000
Average Volume: 176,102
Volume % Change: 322%
This stock is ramping today after the company reported a 67% increase in third-quarter revenue at $835 million, which was well above the prior year quarter of $499 million, on a 9% increase in overall sales volume.
From a technical standpoint, this stock is just starting to move back above its 50-day moving average of $21.81 on monster volume. Traders should now watch for a sustained move and close above the 50-day and above the next significant overhead resistance levels at $21.27 and $22.82 on high volume.
If we see that action, then this stock sets up for a monster move that could see shares trade up to its next significant overhead resistance at $26.80, or possibly even towards the 200-day moving average of $31.31.
TPC Group is one of TheStreet Ratings' top-rated chemical stocks.