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21Vianet Group(VNET - Get Report) is a carrier-neutral Internet data center services provider in the People's Republic of China. This stock is trading up 5.12% at $10.06 in recent trading.
Today's Volume: 407,000
Average Volume: 320,923
Volume % Change: 114%
>>4 Tech Stocks Set to Shine
From a technical perspective, VNET is gapping higher here with above average volume. This move is quickly pushing VNET within range of triggering a major breakout trade. That trade will hit once VNET takes out $11 with high volume.
Traders should now look for long-biased trades once VNET sustains a move or close above $11 with volume that's near or above 320,923 shares. Keep in mind that any move over $11 will also mean that VNET has pushed back above both its 50-day at $10.53 and its 200-day at $10.80, which is bullish technical action. Also keep in mind that traders can buy VNET off weakens and simply anticipate that breakout. If that breakout triggers soon, then VNET will have a great chance of re-testing and possibly taking out its next major overhead resistance levels at $12.07 to $13.63.