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Rediff.com(REDF), along with its subsidiaries, is engaged in the business of providing online Internet-based services, focusing on India and the global Indian community. This stock is trading up 5% at $4.14 in recent trading.
Today's Range: $3.90-$4.24
52-Week Range: $3.50-$14.48
Three-Month Average Volume: 84,067
>>Stocks Rising on Unusual Volume
From a technical perspective, REDF is jumping higher here off some recent support at around 43.84 with above average volume. This move is quickly pushing REDF within range of triggering a near-term breakout trade. That trade will hit once REDF takes out some near-term overhead
resistance at $4.29 to $4.32, and then once it moves above its 50-day at $4.66 and more resistance at $4.79 with high-volume.
Traders should now look for long-biased trades once REDF sustains a move or close above those levels with volume that's near or above 84,067 shares. At last check, volume has hit 89,000 today and the stock has tagged an intraday high of $4.25. If we get that breakout soon, then look for REDF could easily hit $6 to $7. Keep in mind, that REDF will only have a chance of hitting those targets if it maintains a trend above its 50-day with
strong upside volume flows.