4 Tech Stocks Spiking on Big Volume
NetEase
NetEase (NTES) provides its Internet and wireless value-added applications, services and technologies and advertising services to Guangzhou NetEase and Guangyitong Advertising and they operate the NetEase Websites and the online advertising business. This stock is trading up 1.2% at $48.84 in recent trading.
Today's Volume: 546,000
Average Volume: 764,830 Volume % Change: 50% From a technical perspective, NTES is moving modestly higher here with decent volume. This move follows a massive drop in this stock from last week that took shares down from $58.20 to its recent low of $47.51 with heavy volume. Traders should now look for long-biased trades if NTES takes out Friday's high of $49.38 with high volume. Look for a sustained move or close above $49.38 with volume that's near or above 764,830 shares. If we get that action today or soon, then look for NTES to possibly make a run at its 200-day moving average of $53.06. On the flipside, I would avoid NTES or look for short-biased trades if it fails to trigger that move, and then takes out its recent low of $47.51 with heavy volume. A high-volume move below $47.51 will setup NTES to re-test or take out its past support levels at $46.60 to $45. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr.-- Written by Roberto Pedone in Winderemere, Fla.Follow Stockpickr on Twitter and become a fan on Facebook.
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