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Youku Tudou(YOKU - Get Report) is an Internet television company in the People's Republic of China. This stock is trading up 5.6% at $17.67 in recent trading.
Today's Volume: 1.2 million
Average Volume: 1.3 million
Volume % Change: 116%
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From a technical perspective, YOKU is ripping high here with decent volume, and this stock is flirting with its 50-day moving average of $17.96. This stock recently formed a double bottom at around $15.46 to $15.83. At last check, YOKU has hit an intraday high of $18.09 and volume is just a touch below its three-month average action o 1.3 million shares.
Traders should now look for long-biased trades in YOKU as long as it's trending above its 50-day at $17.96 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.3 million shares as bullish. If YOKU can maintain that trend, then this stock has a great chance of re-testing or possibly taking out its next significant overhead resistance levels at $19.33 to its 200-day moving average of $20.99.