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Sky-mobi(MOBI) operates mobile social games and provides applications and content with social network functions to its registered members in China. This stock is trading up 9.5% at $2.29 in recent trading.
Today's Range: $2.10-$2.34
52-Week Range: $1.80-$6.13
Three-Month Average Volume: 59,800
>>5 Stock Charts You've Got to See to Believe
From a technical perspective, MOBI is ripping higher here with heavy volume. This move is coming after MOBI bounced strongly off its 50-day moving average of $1.98 on Wednesday. This spike today is now pushing MOBI within range of triggering a near-term breakout trade. That trade will hit once MOBI manages to clear some near-term overhead resistance at $2.25 to $2.53 with high volume. At last check, MOBI has hit an intraday high of $2.34 and volume is well above its three-month average action of 59,800 shares.
Traders should now look for long-biased trades in MOBI as long as it's trending above today's low of $2.10, and then once it sustains a move or close above those breakout levels with volume that's near or above 59,800 shares. If that breakout triggers today or soon, then look for MOBI to re-test and possibly take out its 200-day at $2.88. Any high-volume move above $2.88 will setup MOBI to tag $3.50.