RF Micro Devices (RFMD)
52-week Range: $3.45-$7.89
Three-Month Average Volume: 3,706,350 Shares of RFMD are soaring today, after Avian Securities upgraded the stock from neutral to positive. From a technical perspective, RFMD is skyrocketing here on above-average volume. This move is coming off some previous support levels at $3.45 to $3.50. Traders should now look for long-biased trades, if RFMD can manage to clear some near-term overhead resistance at $4.05, and then its 50-day moving average of $4.19 with high volume. Look for a sustained move or close above those levels with volume that's near or above 3,706,350 shares. If we get that action soon, then look for RFMD to hit its next significant overhead resistance levels $4.47 to $4.56, or possibly even $5.02. On the flipside, I would avoid RFMD from the long side if it fails to maintain a trend back above its 50-day at $4.19.