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4 Tech Stocks Spiking on Big Volume

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Get Adobe Flash player (SOHU - Get Report) is a Chinese online media, search, gaming, community and mobile service group. The company operates matrices of Chinese language Web properties, and it operates multi-player online games and Web-based games in the People's Republic of China. This stock is trading up 3.3% at $43.24 in recent trading.

Today's Volume: 1.7 million

Average Volume: 769,633

Volume % Change: 245%

>>3 Internet Stocks Ready to Move Higher

Shares of SOHU are trending up today after Citron Research said with the recent move in the share price of Qihoo 360 (QIHU) on the announcement that they are entering the search business, is now in play.

From a technical perspective, SOHU is moving up here with above average volume, and it's starting to flirt with some key near-term breakout levels. At last check, SOHU has taken out some near-term resistance at $42.81 and it's moving within range of more overheard resistance at $44.99.

Traders should now look for long-biased trades if SOHU can manage to break out above $42.81 to $44.99 with high volume. Look for a sustained move or close above those levels with volume that's near or above 769,633 shares. Keep in mind that you could also get long off weakness and anticipate that breakout, as long as $41.50 holds up. If that breakout triggers soon, then SOHU will have a great chance of re-testing and possibly taking out its next major overhead resistance levels at $47.31 to $48.11.
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SOHU $44.85 0.00%
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