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Allot Communications(ALLT) is a provider of intelligent IP service optimization, monetization and personalization solutions for mobile, fixed and wireless broadband service providers and enterprises. This stock is trading up 4.1% at $24.89 in recent trading.
Today's Volume: 892,000
Average Volume: 470,180
Volume % Change: 219%
>>5 Stock Charts Every Investor Needs to See
From a technical perspective, ALLT is ripping higher here on above-average volume. This move has briefly pushed ALLT into breakout territory since the stock took out some near-term overhead resistance at $24.62. At last check, ALLT has moved back below that breakout level with shares now trading at $24.89.
Traders should now look for long-biased trades if ALLT can manage to trigger a breakout above $24.89 and then above its 52-week high of $26.97 on high volume. Look for a sustained move or close above those levels with volume that's near or above 470,180 shares. If we get that action soon, look for ALLT to tag $30 in the near future.
On the flipside, I would avoid ALLT if it moves back below its 50-day moving average of $23.49 with heavy volume.