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Emmis Communications(EMMS - Get Report) is a diversified media company, principally focused on radio broadcasting. This stock is trading up 5.8% at $2.17 in recent trading.
Today's Range: $2.05-$2.18
52-Week Range: $0.58-$2.37
Three-Month Average Volume: 302,827
>>5 Stocks Under $10 Set to Soar
From a technical perspective, EMMS is ripping higher here with above average volume. This move is coming after EMMS recently tested its 50-day moving average of $1.88 and held that level. This move is also pushing EMMS within range of triggering a major breakout trade. That trade will hit once EMMS takes out some near-term overhead resistance levels at $2.22 to $2.23, and then once it clears its 52-week high of $2.37 with high volume.
Traders should now look for long-biased trades in EMMS as long as it holds its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 302,827 shares. If that breakout hits soon, then EMMS has a great chance of taking out its 2010 high of $2.45 and heading significantly higher.