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NuVasive(NUVA - Get Report) is a medical device company. NuVasive focuses on developing minimally disruptive surgical products and procedures for the spine. This stock is trading up 2.8% at $20.98 in recent trading.
Today's Volume: 1.4 million
Average Volume: 676,631
Volume % Change: 143%
Shares of NUVA are trending higher today after the company reported better-than-expected first quarter revenue of $151.9 million, or a 22% rise from the same period last year on Tuesday.
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From a technical perspective, NUVA is continuing to see buying momentum here after the stock gapped up huge off earnings on Tuesday. That gap up on Tuesday came with monster volume, and volume today is also well above its average action.
Traders should now look for long-biased trades if NUVA can manage to close near its daily highs, and maintain its uptrend above its gap-day low of $19. If we continue to see that action, then NUVA can easily hit its next significant overhead resistance levels at $22.50 to $24.50.
That said, I would consider short-biased trades if NUVA moves below $19 with heavy volume.