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Brightcove(BCOV - Get Report) is a global provider of cloud-based solutions for publishing and distributing professional digital media. This stock is trading up 7% at $13.89 in recent trading.
Today's Volume: 827,000
Average Volume: 307,273
Volume % Change: 272%
Shares of BCOV are ripping higher today after the company announced that Discovery Networks International has adopted its App Cloud mobile platform to develop and manage dual-screen catch-up TV services.
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From a technical perspective, BCOV is trending to the upside here back above its 50-day moving average of $12.96 with heavy upside volume. This move is quickly pushing BCOV within range of triggering a near-term breakout trade. That trade will hit once BCOV manages to take out some near-term overhead resistance levels at $14.48 to $15.25 with high volume.
Traders should now look for long-biased trades in BCOV as long as it's trending above its 50-day at $12.96, and then once it sustains a move or close above those breakout levels with volume that hits near or above 307,273 shares. If that breakout triggers soon, then look for BCOV to re-test or possibly take out its next major overhead resistance levels at $16.53 to $17.17. If those levels were to get taken out with volume, then BCOV could trade up towards $19 to $20.