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Seagate Technology(STX - Get Report) designs, manufactures, markets and sells hard disk drives. This stock is trading up 4.6% at $24.34 in recent trading.
Today's Volume: 13.1 million
Average Volume: 12.6 million
Volume % Change: 63%
From a technical perspective, STX is gapping up sharply here with above-average volume. This move is coming off some previous support levels at around $22.50, and it's quickly pushing the stock within range of triggering a near-term
breakout trade. That trade will hit once STX takes out some near-term overhead resistance at $24.68 with high volume.
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Traders should now look for long-biased trades once STX sustains a move or close above $24.68 with volume that's near or above 12.6 million shares. If we get that action today or soon, then traders should add to any long positions once STX clears its 50-day at $26.99, and some more resistance at $27.10 with strong volume.
As of the most recently reported period, Seagate was one of
Edward Lampert's holdings and also showed up in
David Einhorn's Greenlight Capital portfolio.