(NOAH - Get Report)
This company, through its subsidiaries, is a service provider focusing on distributing wealth management products to the high net-worth population in the People's Republic of China. This stock is up 2.7% at $5.31 in recent trading.
Today's Range: $5.01-$5.42
52-week Range: $4.63-$14.68
Three-Month Average Volume: 88,648
From a technical perspective, NOAH is moving modestly higher here, with above-average volume. This move is coming off a near-term double bottom that hit once this stock found buying interest at $4.63 to $4.68. Shares of NOAH are now trending very close to triggering a near-term breakout trade. That trade will hit once NOAH takes out some near-term overhead resistance at $5.55 with high volume.
Traders should now look for long-biased trades once NOAH sustains a move or close over $5.55 with volume that's near or above 88,648 shares. If we get that action soon, then NOAH could easily spike big back toward its 50-day moving average of $6.60, or possibly even its 200-day moving average of $7.70.
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