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Seagate Technology(STX - Get Report) designs, manufactures, markets and sells hard disk drives. The stock is trading up 3.7% at $28.41 in recent trading.
Today's Volume: 11 million
Average Volume: 11.7 million
Volume % Change: 121%
Shares of STX are ripping higher today ahead of the company's earnings report which is scheduled for Tuesday after the market close.
From a technical perspective, STX has started to flirt with a major breakout trade today since the stock is challenging some near-term overhead resistance at $28.63 with heavy volume.
Traders should now look for long-biased trades in STX if it can manage to sustain a high-volume move and close above $28.63 following its earnings report. Look for volume on that move that registers near or above 11,720,600 shares. If we get that action, look for STX to trade over $30 a share post-earnings.
As of the most recently reported quarter, Seagate was one of the
top holdings at David Einhorn's Greenlight Capital.