Tech Data (TECD) is a wholesale distributor of technology products. Tech Data's customers include more than 125,000 value-added resellers, direct marketers, retailers and corporate resellers. This stock is trading up 4.4% at $47.68 in recent trading.
Today's Volume: 522,000Average Volume: 456,657 Volume % Change: 70% From a technical perspective, TECD is bouncing hard here right off some major previous support at $45.56 with above average volume. This stock has found buying interest consistently for the past two months, whenever it has pulled back to around $46 to $45.50. This move is also pushing TECD back above its 50-day moving average of $47.46. At last check, TECD has hit an intraday high of $48 and volume is above its three-month average action of 456,657 shares. Traders should now look for long-biased trades in TECD as long as it's trending above its 50-day at $47.46 with strong upside volume flows. I would consider any upside volume day that registers near or above 456,657 shares as bullish. If we continue to see TECD hold that trend, then this stock will setup to re-test and possibly take out its 200-day moving average of $50.62.
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