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Advent Software(ADVS) offers software and services that automate work flows and data across investment management organizations, as well as the information flows between an investment management organization and external parties. This stock is trading up 4% at $23.08 in recent trading.
Today's Volume: 255,000
Average Volume: 165,728
Volume % Change: 129%
From a technical perspective, ADVS is spiking higher here with above average volume. This move is coming after ADVS was recently hammered by the sellers from over $28 to $20.86. That large selloff came with heavy volume, and it pushed ADVS into oversold territory since the stock's relative strength index reading hit below 30.
Traders should now look for long-biased trades if ADVS can manage to clear some near-term overhead resistance at $23.50 with high volume. Look for a sustained move or close above $23.50 with volume that's near or above 165,728 shares. If we get that action soon, then look for ADVS to possibly re-test its 200-day moving average of $26.09.