Spreadtrum Communications (SPRD) is a fabless semiconductor company that designs, develops and markets markets mobile chipset platforms for smartphones, feature phones and other consumer electronics products that support second generation, third generation and fourth generation wireless communications standards. This stock is trading up 10.6% at $18.25 in recent trading.
Today's Volume: 1.7 millionAverage Volume: 1.3 million Volume % Change: 174% Shares of SPRD are soaring today after JPMorgan upgraded the stock based on China Mobile TD smartphone design wins. The firm raised their price target to $22 from $15. >>Top 5 Tech Stocks in a Down Market From a technical perspective, SPRD is gapping up significantly higher here with heavy volume. This move is quickly pushing SPRD within range of triggering a major breakout trade. That trade will hit once SPRD takes out some near-term overhead resistance at $18.32, and then its 200-day moving average of $18.55 with high volume. Traders should now look for long-biased trades if SPRD can sustain a move or close above $18.32 to $18.55 with volume that's near or above 1,276,010 shares. If we get that action today or soon, then look for SPRD to continue its uptrend toward its next significant overhead resistance levels at $21.16 to $21.37, or possibly back toward $23.05.
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