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Changeyou.com(CYOU - Get Report) is an online game developer and operator in the People's Republic of China. This stock is trading up 4.6% at $25.28 in recent trading.
Today's Volume: 416,000
Average Volume: 297,700
Volume % Change: 199%
Shares of CYOU are spiking sharply higher today after Piper Jaffray reiterated its overweight rating and $43 per share price target on the stock. This upgrade in the stock comes after the company reported first-quarter EPS of $1.24, or 15 cents per share better than analysts' estimates of $1.09. Revenue for the quarter came in at $136.8 million versus the consensus estimate of $132.14 million.
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From a technical perspective, CYOU bouncing hard here near some previous support at $24.06 with heavy volume. This move has yet to push CYOU back above its 50-day moving average of $26.57.
Traders should only consider long-biased traders in CYOU if it can manage to move back above its 50-day with strong volume. Look for a sustained move or close above $26.57 with volume that's near or well above 297,700 shares. If we get that action soon, then CYOU could trend back towards its next significant overhead resistance levels at $28.05 to its 200-day moving average of $39.35.