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3 Tech Stocks Soaring on Big Volume


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Facebook (FB - Get Report) is engaged in building products to create utility for users, developers, and advertisers. This stock is trading up 6.4% at $21.62 in recent trading.

Today's Volume: 44.5 million

Average Volume: 42.2 million

Volume % Change: 50%

Shares of FB are ripping higher today after Topeka Capital reiterated its buy rating and $36 price target on the stock.

>>8 Big Tech Stocks Leading the Market

From a technical perspective, FB is bouncing sharply higher here right around some near-term support at $19.80 with above-average volume. This move is also pushing FB back above its 50-day moving average of $21.30. Traders should now look for long-biased trades in FB once it manages to trigger its next major breakout trade. That trade will hit once FB takes out some near-term overhead resistance at $23.37 to around $25 with high volume.

Traders should now look for long-biased trades in FB as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 42.2 million shares. If that breakout triggers soon, then FB will have an excellent chance to re-fill its previous gap and trade up towards $27.50 to $30.

Facebook was also featured this week in " 5 Big Stock Charts You've Got to Se to Believe."
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CERN $53.70 -1.10%
FB $99.51 -0.24%
NTES $136.35 2.40%
AAPL $95.01 0.00%
GOOG $677.65 -0.75%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

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