This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NetScout Systems(NTCT) designs, develops, manufactures, markets, licenses, sells and supports market application and network performance management and service assurance solutions for the Internet protocol (IP) based service delivery environments. This stock is trading up 4.3% at $22.88 in recent trading.
Today's Volume: 278,000
Average Volume: 273,338
Volume % Change: 55%
Shares of NTCT are soaring today after the company said its first quarter net income more than doubled as bookings increased. The company earned $5 million, or 12 cents per share, in the quarter. That's up from $2.4 million, or 6 cents per share, a year ago.
From a technical perspective, NTCT is ripping to the upside here with above average volume, and this stock has started to trigger a major breakout trade since it's cleared some past overhead resistance at $22.49.
Traders should continue to look for long-biased trades in NTCT as long as this stock is trending above $22.49 with strong upside volume flows. I would consider any upside volume day that registers near or above 273,338 shares as bullish. If NTCT can hold its trend above $22.49, then this stock has a great chance of hitting $25 to $26 in the near future.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.