Tech Data (TECD) is a wholesale distributor of technology products. This stock is trading up 2.1% at $48.49 in recent trading.
Today's Volume: 348,000Average Volume: 403,968 Volume % Change: 69% Shares of TECD are moving modestly higher today after the company reported earnings that beat Wall Street estimates by 7 cents per share but missed on revenue. From a technical perspective, TECD has hit just below its 200-day moving average of $49.92 here on decent volume. At last check, the stock has pulled back off that area and is now trending at around $48.50. Traders should now only look for long-biased trades in TECD if it can manage to sustain a move or close above its 200-day with high-volume. Look for volume off that move that's near or above 403,968 shares. If we get that action, look for TECD to hit $52 to its 50-day moving average of $53.02. Keep in mind that TECD has to be trending over its 200-day to have a chance at those targets with strong upside volume flows.
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