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Medidata Solutions(MDSO) is a global provider of software-as-a-service, clinical technology solutions. This stock is trading up 4.6% at $30.13 in recent trading.
Today's Volume: 226,000
Average Volume: 178,642
Volume % Change: 50%
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technical perspective, MDSO is moving sharply higher here on above-average volume, and the stock has started to flirt with a major breakout trade. Shares of MDSO have started to take out some near-term overhead resistance at $29.27 to $29.65 with high volume. This move has pushed MDSO into new
52-week-high territory, which is bullish technical action.
Traders should now continue to look for long-biased trades as long as MDSO is trending above those breakout levels of $29.27 to $29.65 with strong upside volume flows. I would consider any upside volume day that registers near or above 178,642 shares as bullish. If we continue to see that trend, then MDSO has a great chance of tagging $35 in the near future.