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Micros Systems(MCRS) is a designer, manufacturer, marketer and servicer of enterprise information solutions for the global hospitality and retail industries. This stock is trading up 8.5% at $52.35 in recent trading.
Today's Volume: 1.05 million
Average Volume: 433,542
Volume % Change: 289%
Shares of MCRS are skyrocketing today after the company reported better-than-expected earnings and raised its 2013 revenue guidance.
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From a technical perspective, MCRS is gapping up big here back above both its 50-day and 200-day moving averages with high volume. This move is quickly pushing MCRS within range of triggering another breakout trade. That trade will hit once MCRS takes out some near-term overhead resistance levels at $53.39 to $55.36 with high volume.
Traders should now look for a long-biased trade as long as MCRS is trending above its 200-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 433,542 shares. If that breakout triggers soon, then MCRS will have a great chance of re-testing and possibly taking out its next major overhead resistance levels $57 to $58.49.
On the flipside, I would avoid MCRS or look for short-biased traders if fails to trigger that breakout, and then moves back below its 200-day at $50.86 with high volume.