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3 Tech Stocks Ripping Higher With Volume

Allscripts Healthcare Solutions

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Allscripts Healthcare Solutions (MDRX - Get Report) is a provider of clinical, financial, connectivity and information solutions and related professional services to hospitals, physicians and post-acute organizations. This stock is trading up 4% at $12.94 in recent trading.

Today's Volume: 5.2 million

Average Volume: 3.2 million

Volume % Change: 223%

Shares of MDRX are soaring today after Bloomberg News, citing people familiar with the matter, reported that Citigroup was hired by Allscripts to explore a sale of the company.

>>3 Tech Stocks Hedge Funds Are Buying

From a technical perspective, MDRX is gapping higher here with above-average volume. This move is quickly pushing MDRX within range of triggering a near-term breakout trade. That trade will hit once MDRX manages to take out its 200-day moving average of $14.09 with high volume.

Traders should now look for long-biased trades in MDRX as long as it's trending above $12.50, and then once it sustains a move or close above $14.09 with volume that's near or above 3.2 million shares. If that breakout triggers soon, then look for MDRX to fill some of its previous gap from April that started near $16.

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