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E*Trade Financial(ETFC - Get Report) is a financial services company, which provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. This stock is trading up 6.5% at $10.52 in recent trading.
Today's Volume: 7.4 million
Average Volume: 6.1 million
Volume % Change: 207%
Shares of ETFC are ripping higher today after the company said late Thursday that its first-quarter net profit jumped to $62.6 million, or 22 cents per share, from $45.2 million, or 16 cents from the same period last year.
From a technical perspective, ETFC is moving sharply higher today back above both its 50-day and 200-day moving averages on above average volume. This move is quickly pushing ETFC within range of triggering a near-term breakout trade. That trade will hit once ETFC takes out some near-term overhead resistance at $10.69 with high-volume.
Traders should now look for long-biased trades once ETFC manages to move or close above $10.69 with volume that's near or well above 6.1 million shares. If we get that action soon, look for ETFC to make a run at its recent highs of $11.50 to $12.45.
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