Home Inns & Hotels Management
Today's Volume: 344,000Average Volume: 372,580 Volume % Change: 75% Shares of HMIN are moving higher today after the company reported its earnings results on Thursday. The firm reported earnings per share of 34 cents for the quarter, beating Wall Street estimates of 31 cents per share. The company's quarterly revenue was up 60.2% on a year-over-year basis. From a technical perspective, HMIN is bouncing hard here right off some previous support at $21 with decent volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once HMIN takes out some near-term overhead resistance levels at $25 to $25.95 with high volume. That $25.95 level is HMIN's 200-day moving average. Traders should now look for long-biased trades once HMIN sustains a move or close above $25 to $25.95 with volume that's near or above 372,580 shares. If we get that action soon, then look for HMIN to re-test or possibly take out its next major overhead resistance level at $27.41.
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