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Mako Surgical(MAKO) is a medical device company that markets its robotic arm solution and orthopedic implants for orthopedic procedures called MAKOplasty. This stock is trading up 8.8% at $16.93 in recent trading.
Today's Volume: 2.7 million
Average Volume: 1.95 million
Volume % Change: 174%
Shares of MAKO are skyrocketing today after British orthopedic device maker Corin said it had made significant deliveries to MAKO in the first half of 2012.
>>5 Stocks Set to Soar on Bullish Earnings From a technical perspective, MAKO is ripping higher here and flirting with its 50-day moving average of $17.12 with monster volume. This move is coming after MAKO recently hit a low of $11.99 after gapping down from around $25 to $13.41 with heavy volume. At last check, MAKO has hit an intraday high of $17.82 but has subsequently pulled back to around $16.93.
Traders should now look for long-biased trades in MAKO as long as it's 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 1.95 million shares as bullish. If MAKO can sustain a move above its 50-day, then this stock has a great chance to re-fill a larger chunk of that previous gap down zone.