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Ultimate Software Group(ULTI) is a provider of unified human capital management software-as-a-service solutions for global businesses. This stock is trading up 1% at $78.66 in recent trading.
Today's Volume: 163,000
Average Volume: 153,865
Volume % Change: 98%
Shares of ULTI are moving modestly higher after some analysts said the company could be a takeover target, following the SAP-Ariba deal.
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From a technical perspective, ULTI is moving modestly higher here on above-average volume. This stock has been uptrending strong for the past six months, with shares soaring from a low of $59.93 to a recent high of $83.02. During that uptrend, ULTI has consistently made higher lows and higher highs, which is bullish
technical price action.
Traders should now look for long-biased trades as long as ULTI is trending above $79.50 with strong upside volume flows. I would consider any upside volume day that registers near or above 153,865 shares as bullish. If we get that move, then look for UTLI to re-test its recent high of $83.02.