TILE is an industrial goods company that designs, produces and sells modular carpet products internationally. Strong quarterly results reported in February, exceeding Wall Street estimates, has sent TILE's shares surging 27% higher in just the past month. Major overhead price resistance is approaching, however, so it will be interesting to see if the momentum will continue and result in a breakout. The daily chart (not shown below) shows seriously overbought momentum oscillators so TILE may need a rest or period of consolidation before clearing key resistance. The level of resistance (20.00-22.00) is fairly obvious on a long-term weekly chart and TILE is currently right in the middle of it. The heavier volume of late could be indicative of accumulation. You might want to keep this one on your radar. Check it out:
Happy trading!
Tom
