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NII Holdings(NIHD) provides wireless communication services under the Nextel brand name to businesses and individuals in Mexico, Brazil, Argentina, Peru and Chile. This stock closed up 7.6% to $8.01 in recent trading.
Thursday's Range: $7.45-$8.58
52-Week Range: $5.65-$31.75
Volume: 7.2 million
Three-Month Average Volume: 6.3 million
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From a technical perspective, NIHD ripped to the upside right off some near-term support at $7.16 with above-average volume. This move briefly pushed NIHD into breakout territory, since it was trending above some near-term overhead resistance levels at $8.15 to $8.45.
Traders should now look for long-biased trades once NIHD triggers its next major breakout trade. That trade will hit once it manages to clear some more overhead resistance at $8.76 with high volume. Look for long-biased trades in NIHD as long as it's trending above $7.45, and then once it sustains a move or close above $8.45 to $8.76 with volume that hits near or above 6,255,940 shares. If that breakout triggers soon, then look for NIHD to re-test or possibly take out its next major overhead resistance levels at $10.70 to $12.