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Acme Packet(APKT) provides session delivery network solutions, which enable the delivery of voice, video, data and unified communications services and applications across Internet Protocol networks. This stock is trading up 5.9% at $18.94 in recent trading.
Today's Volume: 2.85 million
Average Volume: 2.6 million
Volume % Change: 77%
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From a technical perspective, APKT is ripping higher here with above average volume, and it's started to enter breakout territory above some near-term overhead resistance at $17.96.
Traders should now look for long-biased trades as long as APKT is trending above its 50-day at $17.12 with strong upside volume flows. I would consider any upside volume day that registers near or above 2,638,970 shares as bullish. If APKT can hold this breakout, then this stock has a great chance of re-testing and possibly taking out its next significant overhead resistance levels at $22.41 to $25.
On the flip side, I would avoid this stock or look for short-biased trades if APKT fails to hold this breakout, and then drops back below some major near-term support at $16.30.