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Gentiva Health Services(GTIV) is engaged in providing home health services and hospice services. This stock is trading up 10% at $10.66 in recent trading.
Today's Volume: 394,000
Average Volume: 299,909
Volume % Change: 79%
>>5 Stocks That Could See Major Downside
From a technical perspective, GTIV is exploding higher here with above average volume. This move has attracted momentum buyers that are coming into the stock after it just broke out above $9.04 with high volume. This move is also pushing GTIV into overbought territory, since its current relative strength index reading is now 83.41. Overbought can always get more overbought, so it doesn't mean that GTIV is setting up to fall just yet.
Traders should now look for short-term long-biased trades as long as GTIV is trending above $9.62 to $9.00 with strong upside volume flows. I would consider any upside volume day that registers near or above 299.909 shares as bullish. If that trend continues, then GTIV could trade up towards $12 to possible $13 in the near-term. Keep in mind that the overbought condition for GTIV would only have me looking for short-term trades, since it's not an ideal area for longer-term entries.
I also featured Gentiva in "
5 Stocks Poised for Braekouts."