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Volcano(VOLC) designs, develops, manufactures and commercializes a range of precision guided therapy tools, including intravascular ultrasound and fractional flow reserve products. This stock is trading up 4% at $27.02 in recent trading.
Today's Volume: 386,000
Average Volume: 361,519
Volume % Change: 103%
Shares of VOLC are trending higher today after the company reported earnings per share of 6 cents for the quarter, beating Wall Street estimates of 4 cents per share. The company's quarterly revenue was up 13.6% on a year-over-year basis.
From a technical perspective, VOLC is bouncing strong here right near some previous support at $25.12 with above average volume. This move has pushed VOLC back above its 200-day moving average of $26.71.
Traders should now look for long-biased trades once VOLC triggers its next major breakout. That trade will trigger once VOLC takes out some near-term overhead resistance at $27.73, and then its 50-day moving average of $28.22 with high volume. Look for a sustained move or close above those levels with volume that registers near or above 361,519 shares. If that breakout triggers soon, then VOLC will have a great chance of re-testing and possibly taking out its July high of $30.59.
On the flipside, I would avoid this stock if it were to trend back below its 200-day at 426.71 with strong volume.