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J2 Global(JCOM - Get Report) provides cloud services, including online fax, virtual phone systems, hosted e-mail, e-mail marketing, online backup and customer relationship management. This stock is trading up 9.4% at $28.72 in recent trading.
Today's Volume: 1.25 million
Average Volume: 413,333
Volume % Change: 492%
Shares of JCOM are exploding higher today after the company said it expects to report adjusted second-quarter earnings of between 68 cents and 71 cents per share, compared with Wall Street estimates of 63 cents per share.
>>5 Stocks Poised for Breakouts
technical perspective, JCOM is gapping up huge here back above its 200-day moving average of $27.47 with heavy volume.
Traders should now look to play the next major
breakout trade for JCOM once this stock takes out its daily high with volume. At last check, JCOM has hit an intraday high of $29.40. A
high-volume move or close over $29.40 should set this stock up to re-test and possibly take out its next major overhead resistance levels $30.99 to $31.37.
I would consider any upside volume day that registers near or above 413,333 shares as bullish. If we get that action soon, then JCOM could take those resistance levels out and test its 2011 high of $32.44.