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Emmis Communications(EMMS) is a diversified media company, principally focused on radio broadcasting. This stock is trading up 9.7% to $1.35 in recent trading.
Today's Range: $1.21-$1.42
52-Week Range: $0.58-$1.25
Three-Month Average Volume: 169,111
Shares of EMMS are soaring today ahead of its quarterly earnings report which is due out on Thursday May 10.
From a technical perspective, EMMS is soaring higher here as the stock follows through off some recent upside momentum. In just the last four trading sessions, EMMS has skyrocketed from around 85 cents to today's high of $1.42. This move has pushed the stock into overbought territory since its relative strength index is now 86.85.
Overbought can always get more overbought, so traders should continue to look for long-biased trades if EMMS can manage to close above some past overhead resistance $1.40 with high-volume. That $1.40 level is the high for EMMS in 2011, so a close above that level could setup this stock for continued uptrend towards its next significant overhead resistance levels at $2.18 to $2.45.
Traders should stay bullish on this stock as long as EMMS is trending above $1.40 with strong upside volume flows.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.