Matrixx Initiatives (MTXX) NewsBite - Trading With Unusual Volume

Posted: Thursday, July 02, 2009 2:53 PM EDT

Matrixx Initiatives (MTXX) appears to be trading at a higher than usual volume today and is now at $6.61, up $1.13 (20.62%) on volume of 4,697,330 shares traded. For the last 30 days MTXX has traded 1,920,093 shares on average each day. So far today's volume is 144.64% above that average volume. Over the last 52 weeks the stock has ranged from a low of $4.39 to a high of $19.74. Matrixx Initiatives stock has been showing support around $5.30 and resistance in the $5.68 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for MTXX. If you are looking for a hedged play on MTXX the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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