Another stock that's trading very close to triggering a breakout trade is Yoku.com (YOKU - Get Report), an Internet television company in the People's Republic of China. Yoku's Internet television platform enables consumers to search, view and share video content across multiple devices. This stock is off to a bullish start in 2012, with shares up over 50yo%.
If you look at the chart for Yoku.com, you'll notice that during the last two months and change, this stock has been trading within a sideways pattern between $19.47 on the downside and $25.35 on the upside. On Thursday, shares of Yoku.com started to move back above its 50-day moving average of $23.50 a share with light volume. This move is quickly pushing YOKU within range of triggering a breakout trade above the upper-end of that recent sideways chart pattern.
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